Waverly Advisors LLC Sells 3,061 Shares of Adobe Inc. $ADBE

Waverly Advisors LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,660 shares of the software company’s stock after selling 3,061 shares during the quarter. Waverly Advisors LLC’s holdings in Adobe were worth $7,210,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at $26,000. Western Pacific Wealth Management LP bought a new position in Adobe in the fourth quarter valued at about $26,000. Marquette Asset Management LLC boosted its holdings in Adobe by 72.3% in the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after acquiring an additional 34 shares during the last quarter. TrustBank acquired a new stake in Adobe in the fourth quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Adobe in the fourth quarter worth about $31,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADBE shares. Freedom Capital downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $308.00 in a research report on Thursday, July 2nd. Wells Fargo & Company cut their price objective on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Evercore set a $225.00 price objective on shares of Adobe and gave the company an “in-line” rating in a research note on Friday, June 12th. Finally, DA Davidson lowered their target price on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Hold” and an average target price of $271.30.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks purchased 10,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the transaction, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.20% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $237.75 on Tuesday. The company has a market capitalization of $94.51 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.76 and a beta of 1.43. The firm’s 50 day simple moving average is $226.42 and its 200 day simple moving average is $250.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $376.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. Adobe’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 19.81 earnings per share for the current year.

Adobe declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Adobe Profile

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.