First National Advisers LLC Decreases Stock Holdings in Adobe Inc. $ADBE

First National Advisers LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 73.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,028 shares of the software company’s stock after selling 8,524 shares during the period. First National Advisers LLC’s holdings in Adobe were worth $1,068,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADBE. Norges Bank bought a new stake in shares of Adobe in the second quarter worth $2,029,950,000. Assenagon Asset Management S.A. boosted 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 during the last quarter. Franklin Resources Inc. grew its stake in shares of Adobe by 68.9% during the 2nd 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 during the period. Acadian Asset Management LLC increased its position in shares of Adobe by 218.5% during the 2nd 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 during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Adobe by 16.1% in the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock worth $1,705,043,000 after purchasing an additional 610,215 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $296.12 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $295.42 and a twelve month high of $465.70. The business has a 50-day moving average price of $334.75 and a 200-day moving average price of $347.17. The firm has a market cap of $123.96 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the previous year, the firm earned $4.81 EPS. The firm’s revenue 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 research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Q4 2025 results showed revenue and EPS growth, expanding margins and strong operating cash flow; management provided FY‑2026 and Q1 guidance that implies continued earnings growth — supports the stock’s longer‑term case. Adobe Q4 2025 earnings
• Positive Sentiment: Most sell‑side coverage remains constructive (many Buy/Overweight ratings and median price targets well above the current level), which can anchor upside if macro sentiment stabilizes. Analyst ratings and price targets
• Neutral Sentiment: Market commentary notes fears Adobe could be disrupted by generative AI — the Motley Fool argues that disruption hasn’t materialized yet, which tempers immediate downside but keeps uncertainty elevated. 3 Top Bargain Stocks
• Neutral Sentiment: A comparative review piece mentions Adobe alongside smaller peers; such coverage is informational but unlikely to move the stock materially alone. Head to Head Review: SCIL & Adobe
• Negative Sentiment: Wall Street Zen downgraded Adobe to Hold, increasing near‑term selling pressure as investors reassess conviction. Wall Street Zen Downgrades Adobe
• Negative Sentiment: User stories and reviews highlight cheaper PDF/workflow alternatives (e.g., PDFGear) that are persuading some customers not to renew Acrobat — a potential churn/price‑sensitivity risk for subscription revenue. How PDFGear stopped me
• Negative Sentiment: Analyst/blog coverage and data outlets note recent share underperformance (down ~9% over three months) and highlight competition from MSFT, Google, OpenAI, Canva and others — reinforcing fears of an AI bubble and pressuring sentiment. Adobe Drops 9% in 3 Months
• Negative Sentiment: Opinion pieces arguing some customers are “overpaying” for Adobe may amplify value/price sensitivity narratives among retail investors. You’re overpaying Adobe
• Negative Sentiment: Market reports note today’s larger-than-market decline, reflecting the combination of the downgrade, short‑term profit‑taking and macro/AI worries. ADBE suffers larger drop

Analyst Ratings Changes

A number of brokerages have commented on ADBE. Wall Street Zen cut shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup boosted their price objective on shares of Adobe from $366.00 to $387.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. BMO Capital Markets cut Adobe from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $400.00 to $375.00 in a report on Friday, January 9th. Mizuho cut their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, UBS Group set a $487.00 price target on Adobe in a research report on Sunday, December 14th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $402.85.

Adobe 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.