Cannell & Spears LLC Trims Stake in Adobe Inc. $ADBE

Cannell & Spears LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,182 shares of the software company’s stock after selling 2,424 shares during the period. Cannell & Spears LLC’s holdings in Adobe were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ADBE. Brighton Jones LLC raised its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Adobe by 25.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after acquiring an additional 486 shares during the last quarter. United Bank boosted its position in shares of Adobe by 12.8% during the 2nd quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after purchasing an additional 428 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Adobe by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after purchasing an additional 190 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Adobe by 190.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock valued at $1,069,000 after purchasing an additional 1,813 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Adobe stock opened at $225.11 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16. The firm has a market cap of $89.48 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The company’s 50 day moving average is $226.78 and its two-hundred day moving average is $251.84.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the firm posted $5.06 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, research analysts expect that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. TD Cowen cut their target price on Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a research report on Monday, June 8th. BTIG Research started coverage on Adobe in a research report on Monday, April 13th. They set a “neutral” rating for the company. Mizuho dropped their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. Finally, CLSA assumed coverage on Adobe in a research note on Monday, July 20th. They set an “outperform” rating and a $300.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Adobe presently has an average rating of “Hold” and a consensus price target of $271.30.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe (NASDAQ:ADBE) Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

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.