Adobe Inc. $ADBE Stock: GRIMES & Co WEALTH MANAGEMENT LLC Cuts Stake

GRIMES & Co WEALTH MANAGEMENT LLC reduced its position in Adobe Inc. (NASDAQ:ADBE) by 83.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,331 shares of the software company’s stock after selling 27,668 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Adobe were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Greenfield Seitz Capital Management LLC grew its position in Adobe by 14.9% in the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 18,598 shares of the software company’s stock valued at $4,462,000 after acquiring an additional 2,405 shares during the last quarter. Signature Equity Partners LLC lifted its position in shares of Adobe by 49.2% during the third quarter. Signature Equity Partners LLC now owns 373 shares of the software company’s stock worth $89,000 after purchasing an additional 123 shares during the last quarter. Sicart Associates LLC lifted its position in shares of Adobe by 0.6% during the third quarter. Sicart Associates LLC now owns 40,618 shares of the software company’s stock worth $9,960,000 after purchasing an additional 261 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Adobe by 6.6% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 27,892 shares of the software company’s stock valued at $6,693,000 after purchasing an additional 1,735 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in shares of Adobe by 3.0% during the third quarter. Hennessy Advisors Inc. now owns 9,682 shares of the software company’s stock valued at $2,323,000 after purchasing an additional 284 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ADBE shares. Jefferies Financial Group cut their price target on shares of Adobe from $285.00 to $275.00 and set a “hold” rating on the stock in a report on Friday, September 11th. BTIG Research reiterated a “neutral” rating on shares of Adobe in a report on Friday, September 11th. BMO Capital Markets boosted their price objective on shares of Adobe from $230.00 to $270.00 and gave the company a “market perform” rating in a research report on Friday, September 11th. DA Davidson upped their target price on shares of Adobe from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Adobe from $340.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $283.90.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is bringing licensed music from Universal Music Group and Warner Music Group to Premiere mobile. The added music catalog could make the video-editing app more useful and attractive to creators, though the reports did not describe a financial contribution. Forbes article on Adobe’s music deals
• Neutral Sentiment: Analyst views remain split: some see potential in Adobe’s freemium offerings and AI, while others are wary of softer annual recurring revenue (ARR) trends and competition. A compiled fair-value estimate was trimmed from $275.06 to $268.30, suggesting somewhat less estimated upside. Analyst views on Adobe fair value
• Negative Sentiment: Investors may be concerned that AI could challenge Adobe’s competitive edge, as new AI tools and software alternatives raise questions about the durability of its business and pricing power. This concern adds to pressure from competition and softer ARR trends. Article on AI and Adobe’s competitive edge

Adobe Price Performance

Shares of ADBE stock opened at $246.14 on Wednesday. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $362.71. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $253.29 and a two-hundred day simple moving average of $250.40. The stock has a market capitalization of $95.80 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.88 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 EPS for the quarter, beating the consensus estimate of $6.08 by $0.05. The firm had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.69 billion. Adobe had a return on equity of 65.65% and a net margin of 28.05%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.31 earnings per share. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. On average, analysts predict that Adobe Inc. will post 20.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CEO Shantanu Narayen sold 74,500 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the transaction, the chief executive officer owned 289,224 shares of the company’s stock, valued at approximately $72,757,189.44. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Adobe Profile

Adobe Inc is a global software company that develops digital tools for creative professionals, businesses, marketers, and individual users. Its products help customers create, edit, publish, manage, and measure digital content across websites, mobile applications, documents, and other media.

The company’s Creative Cloud portfolio includes applications such as Photoshop, Illustrator, InDesign, Premiere Pro, and Acrobat. Adobe also offers Document Cloud, which provides tools for creating, editing, sharing, signing, and managing digital documents, and Experience Cloud, a suite of solutions for digital marketing, analytics, commerce, customer journeys, and content management.