Cannell & Spears LLC Sells 53,506 Shares of Adobe Inc. $ADBE

Cannell & Spears LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 73.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,834 shares of the software company’s stock after selling 53,506 shares during the quarter. Cannell & Spears LLC’s holdings in Adobe were worth $6,997,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Adobe by 25.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after buying an additional 486 shares during the period. United Bank lifted its position in shares of Adobe by 12.8% during the 2nd quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after buying an additional 428 shares during the period. Schnieders Capital Management LLC. boosted its stake in Adobe by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock valued at $1,017,000 after buying an additional 190 shares in the last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in Adobe by 2.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 22,789 shares of the software company’s stock valued at $8,817,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $249.32 on Friday. Adobe Inc. has a 52 week low of $244.28 and a 52 week high of $422.95. The stock has a market capitalization of $102.35 billion, a PE ratio of 14.52, a PEG ratio of 0.98 and a beta of 1.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $283.88 and its 200-day moving average is $323.00.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a return on equity of 64.23% and a net margin of 29.48%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer directly owned 41,995 shares of the company’s stock, valued at approximately $12,382,225.75. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADBE shares. Jefferies Financial Group dropped their price objective on Adobe from $400.00 to $290.00 and set a “hold” rating for the company in a research note on Monday, February 23rd. Citigroup reduced their target price on shares of Adobe from $387.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $430.00 target price on shares of Adobe in a research report on Monday, March 9th. TD Cowen cut their price target on shares of Adobe from $400.00 to $325.00 and set a “hold” rating for the company in a report on Tuesday, March 10th. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $375.00 to $285.00 and set a “market perform” rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $347.85.

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.