Adobe Inc. $ADBE Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 39.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,640 shares of the software company’s stock after selling 2,365 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Adobe were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Investment Research & Advisory Group Inc. raised its holdings in Adobe by 185.7% in the 3rd quarter. Investment Research & Advisory Group Inc. now owns 100 shares of the software company’s stock valued at $25,000 after buying an additional 65 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new position in Adobe in the second quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Adobe during the second quarter worth about $28,000. Latitude Advisors LLC purchased a new position in Adobe during the third quarter worth about $29,000. Finally, North Point Portfolio Managers Corp OH purchased a new position in Adobe during the third quarter worth about $30,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Shantanu Narayen sold 50,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $249.57, for a total value of $12,603,285.00. Following the completion of the transaction, the chief executive officer owned 238,724 shares of the company’s stock, valued at approximately $59,578,348.68. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is bringing its CX Enterprise Coworker marketing agent to ChatGPT, Claude, Gemini, Microsoft Copilot and other platforms. The move could extend Adobe’s reach and help it compete as businesses adopt AI tools. Adobe brings CX Enterprise Coworker to major AI platforms
• Neutral Sentiment: Adobe is adjusting its strategy in response to AI-related risks. The strategic shift may help it adapt, though the articles do not establish whether it will translate into stronger growth or results. Adobe Stock: Buy or Sell?
• Negative Sentiment: Citi downgraded Adobe to Sell and set a $207 price target, citing the risk of a “hard reset” and a weaker fiscal 2027 outlook. The downgrade adds to concerns about Adobe’s growth trajectory; a related report says the stock is down 29% in 2026. Adobe Is Down 29% This Year. Time to Sell or Buy More?

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Adobe from $225.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. BTIG Research restated a “neutral” rating on shares of Adobe in a report on Friday, September 11th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $379.00 to $373.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. DA Davidson lifted their target price on shares of Adobe from $250.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 14th. Finally, Wells Fargo & Company downgraded shares of Adobe from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $270.00 to $225.00 in a report on Monday, October 12th. Nine investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $282.52.

Adobe Trading Down 2.9%

ADBE traded down $7.14 during mid-day trading on Friday, hitting $239.30. 3,295,382 shares of the stock were exchanged, compared to its average volume of 4,311,005. The firm’s fifty day moving average is $251.24 and its two-hundred day moving average is $249.62. Adobe Inc. has a 1-year low of $190.12 and a 1-year 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 company has a market cap of $93.14 billion, a PE ratio of 13.35, a PEG ratio of 0.88 and a beta of 1.37.

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

Adobe Company Profile

Adobe Inc develops software and services for creating, managing and delivering digital content. Its products serve creative professionals, businesses, marketers and individual users around the world.

Adobe’s Digital Media offerings include Creative Cloud applications such as Photoshop, Illustrator, Premiere Pro and InDesign, along with Acrobat tools for creating, editing and signing PDF documents. The company also provides generative AI capabilities through Adobe Firefly and related features in its creative products.

Through its Digital Experience business, Adobe provides tools for managing digital marketing, customer experiences, analytics and commerce.