Carnegie Investment Counsel Reduces Stock Position in Adobe Inc. $ADBE

Carnegie Investment Counsel cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 85.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,644 shares of the software company’s stock after selling 80,436 shares during the period. Carnegie Investment Counsel’s holdings in Adobe were worth $4,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. raised its stake in shares of Adobe by 5.1% during the 3rd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,348 shares of the software company’s stock valued at $1,181,000 after purchasing an additional 161 shares during the period. New Hampshire Trust grew its holdings in Adobe by 2.2% during the 3rd quarter. New Hampshire Trust now owns 5,356 shares of the software company’s stock valued at $1,889,000 after buying an additional 113 shares in the last quarter. Meyer Handelman Co. increased its position in shares of Adobe by 9.2% during the third quarter. Meyer Handelman Co. now owns 24,520 shares of the software company’s stock valued at $8,649,000 after buying an additional 2,060 shares during the period. HBW Advisory Services LLC lifted its holdings in shares of Adobe by 16.8% in the third quarter. HBW Advisory Services LLC now owns 7,299 shares of the software company’s stock worth $2,575,000 after buying an additional 1,049 shares in the last quarter. Finally, Greenup Street Wealth Management LLC bought a new position in shares of Adobe in the third quarter valued at approximately $3,401,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADBE. Mizuho decreased their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Wolfe Research decreased their price target on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. Wells Fargo & Company lowered their price objective on Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Oppenheimer reduced their target price on Adobe from $460.00 to $430.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $417.93.

Adobe Price Performance

Shares of Adobe stock opened at $353.80 on Friday. The firm has a market capitalization of $148.10 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.54. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $465.70. The business’s 50-day moving average price is $338.76 and its 200-day moving average price is $353.29.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.40 by $0.10. The business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.Adobe’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.81 earnings per share. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.