Bristlecone Advisors LLC Cuts Stock Holdings in Adobe Inc. $ADBE

Bristlecone Advisors LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,206 shares of the software company’s stock after selling 2,016 shares during the period. Bristlecone Advisors LLC’s holdings in Adobe were worth $2,542,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADBE. Norges Bank purchased a new stake in shares of Adobe during the 2nd quarter valued at $2,029,950,000. Invesco Ltd. grew its position in Adobe by 16.1% in the second quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock worth $1,705,043,000 after acquiring an additional 610,215 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Adobe by 17.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock valued at $1,417,587,000 after acquiring an additional 548,903 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock valued at $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Adobe by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,922,630 shares of the software company’s stock worth $1,130,707,000 after purchasing an additional 24,333 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Oppenheimer decreased their price objective on Adobe from $460.00 to $430.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Monday, December 8th. Wells Fargo & Company lowered their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. TD Cowen lowered their price objective on shares of Adobe from $420.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Finally, Stifel Nicolaus reduced their target price on shares of Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $410.92.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Bullish investor write-up arguing Adobe is an undervalued, long-term compounder and urging accumulation based on its AI/product roadmap. Adobe: I’m Pounding The Table On This Unloved Compounder (Rating Upgrade)
• Positive Sentiment: Adobe expanded its AI capabilities via a multi‑year partnership with Runway to enhance Firefly video tools, supporting product differentiation and monetization of generative AI features. Adobe (ADBE) Partners With Runway to Expand Firefly AI Video Tools
• Positive Sentiment: Adobe exec coverage from CES highlights strategy on personalization and multi‑model AI integrations (Runway, 11 Labs), reinforcing the company’s roadmap to capture creative and marketing spend. Beyond Firefly: Adobe VP Allison Blais Discusses Integrating Runway, 11 Labs and the Future of Multi-Model AI
• Neutral Sentiment: Review of short‑term performance shows the stock has underperformed since the last earnings report; the piece outlines catalysts and risks that could move the stock next. Why Is Adobe (ADBE) Down 3.3% Since Last Earnings Report?
• Neutral Sentiment: Roundup of Wall Street research calls listing Adobe among top analyst actions for the day — informational context for market flow but not a single decisive call. Here Are Friday’s Top Wall Street Analyst Research Calls: Adobe, Airbnb, Altria, Crowdstrike…
• Negative Sentiment: BMO Capital Markets downgraded ADBE to Market Perform (from Outperform), citing rising competitive pressures — a near‑term catalyst for the share decline and reduced upside expectations. Adobe Stock Falls. Shares ‘Will Remain Range-Bound’ As Competition Heats Up, Analyst Says.
• Negative Sentiment: Commentary arguing Adobe’s competitive moat looks less secure as new AI entrants and specialized tools pressure pricing and share in creative/marketing workflows. Adobe’s Competitive Moat Looks Less Secure

Adobe Stock Performance

NASDAQ:ADBE opened at $333.95 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $465.70. The firm has a market cap of $139.79 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.31 and a beta of 1.53. The business has a 50 day moving average price of $337.16 and a 200-day moving average price of $349.93.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping the consensus estimate of $5.40 by $0.10. The company had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous 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. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.