GRIMES & Co WEALTH MANAGEMENT LLC Has $13.07 Million Holdings in Adobe Inc. $ADBE

GRIMES & Co WEALTH MANAGEMENT LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,043 shares of the software company’s stock after selling 4,344 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Adobe were worth $13,067,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Adobe in the 2nd quarter valued at $2,029,950,000. Assenagon Asset Management S.A. raised its position in Adobe by 308.1% in the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after purchasing an additional 2,347,562 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Adobe during the second quarter worth about $318,224,000. Franklin Resources Inc. boosted its holdings in Adobe by 68.9% during the second quarter. Franklin Resources Inc. now owns 1,939,018 shares of the software company’s stock valued at $750,168,000 after purchasing an additional 791,077 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Adobe by 218.5% during the second quarter. Acadian Asset Management LLC now owns 1,073,899 shares of the software company’s stock valued at $415,434,000 after purchasing an additional 736,682 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Bull case: Several articles argue Adobe remains an attractive long‑term opportunity given its cash flows, recurring SaaS revenue and exposure to design/creative workflows, which investors interpret as valuation upside versus peers. What Makes Adobe (ADBE) an Attractive Opportunity?
• Positive Sentiment: Retail/idea coverage: The Motley Fool included Adobe in a list of “cheap” stocks that could outperform, reinforcing a narrative that the stock may be undervalued after last year’s weakness. 3 Absurdly Cheap Stocks That Could Double in 2026
• Neutral Sentiment: Short‑interest report appears to contain data errors (reports show a jump yet list 0 shares and NaN), so there’s no clear evidence of a material short squeeze or buildup to explain the move — treat the dataset cautiously.
• Negative Sentiment: Jefferies downgraded ADBE from Buy to Hold and cut its price target from $500 to $400 as part of a broader software‑sector review, citing rising competitive pressure — a direct negative catalyst for the stock. Jefferies Cautious on Adobe (ADBE)
• Negative Sentiment: BMO downgraded Adobe to Market Perform, citing increasing competition and a lack of near‑term positive catalysts — another analyst move that pressures sentiment and can trigger selling. BMO downgrades Adobe to Market Perform
• Negative Sentiment: Analysts note Adobe’s AI tools are popular but warn competition is intensifying in generative AI and creative software — this raises execution and margin risk as rivals and new entrants chase the same market. Analysts Say Adobe’s (ADBE) AI Tools Are Popular, but Competition Is Intensifying
• Negative Sentiment: Market reaction summary pieces note shares were down intraday (about 1.5% in one report), reflecting the combined weight of downgrades and competition concerns — short‑term pressure is likely sentiment‑driven rather than fundamental‑earnings surprises. Adobe (NASDAQ:ADBE) Stock Price Down 1.5% – Should You Sell?

Adobe Trading Down 1.9%

Shares of NASDAQ ADBE opened at $327.65 on Tuesday. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $465.70. The company has a 50-day moving average of $336.96 and a two-hundred day moving average of $349.26. The company has a market cap of $137.15 billion, a PE ratio of 19.61, a P/E/G ratio of 1.31 and a beta of 1.53. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, beating analysts’ consensus estimates of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. During the same quarter last year, the business posted $4.81 earnings per share. Adobe’s revenue for the quarter was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. As a group, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group set a $487.00 price target on Adobe in a research note on Sunday, December 14th. Wolfe Research reduced their target price on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research note on Thursday, December 11th. Oppenheimer lowered their target price on shares of Adobe from $460.00 to $430.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. DA Davidson reissued a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Thursday, December 11th. Finally, Barclays reaffirmed an “overweight” rating and set a $415.00 price objective on shares of Adobe in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $406.44.

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.