Adobe Inc. $ADBE Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 14.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 306,289 shares of the software company’s stock after selling 49,970 shares during the period. King Luther Capital Management Corp owned approximately 0.07% of Adobe worth $108,043,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Adobe during the second quarter worth about $2,029,950,000. Franklin Resources Inc. boosted its holdings in Adobe by 68.9% in 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 in the last quarter. Acadian Asset Management LLC boosted its holdings in Adobe by 218.5% in 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 in the last quarter. Invesco Ltd. increased its position in Adobe by 16.1% during 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. Finally, Federated Hermes Inc. raised its stake in shares of Adobe by 185.1% during the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock worth $316,913,000 after buying an additional 583,275 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

NASDAQ:ADBE opened at $263.17 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $108.03 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The firm has a 50-day moving average price of $313.11 and a two-hundred day moving average price of $332.89. Adobe Inc. has a twelve month low of $251.10 and a twelve month high of $463.61.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.11 billion. During the same period in the prior year, the business earned $4.81 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. 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, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. Mizuho decreased their price target on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Citigroup increased their price objective on Adobe from $366.00 to $387.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada restated an “outperform” rating and set a $430.00 target price on shares of Adobe in a research report on Thursday, December 11th. Stifel Nicolaus lowered their price target on shares of Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. Finally, Barclays reiterated an “overweight” rating and issued 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, ten have issued a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $397.16.

Insider Buying and Selling

In other news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the sale, the chief financial officer directly owned 41,995 shares in the company, valued at $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

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.