Adobe Inc. $ADBE Stock Position Lowered by Cannell & Spears LLC

Cannell & Spears LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 73.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,834 shares of the software company’s stock after selling 53,506 shares during the period. Cannell & Spears LLC’s holdings in Adobe were worth $6,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Riverbend Wealth Management LLC lifted its holdings in shares of Adobe by 1.8% in the third quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company’s stock valued at $588,000 after purchasing an additional 29 shares in the last quarter. Intellus Advisors LLC grew its holdings in shares of Adobe by 1.6% during the second quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock valued at $720,000 after buying an additional 30 shares in the last quarter. Beacon Financial Advisory LLC grew its holdings in shares of Adobe by 5.5% during the third quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock valued at $204,000 after buying an additional 30 shares in the last quarter. MCF Advisors LLC raised its position in Adobe by 20.8% during the third quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock valued at $61,000 after buying an additional 30 shares during the period. Finally, Dakota Community Bank & Trust NA lifted its stake in Adobe by 12.8% in the 2nd quarter. Dakota Community Bank & Trust NA now owns 274 shares of the software company’s stock worth $106,000 after acquiring an additional 31 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Adobe Stock Down 7.6%

ADBE opened at $249.32 on Friday. The company has a market capitalization of $102.35 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.98 and a beta of 1.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.00. Adobe Inc. has a fifty-two week low of $244.28 and a fifty-two week high of $422.95. The business has a 50-day moving average of $283.88 and a 200-day moving average of $323.00.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.23% and a net margin of 29.48%.The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the business posted $5.08 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ADBE shares. The Goldman Sachs Group set a $220.00 price objective on Adobe and gave the stock a “sell” rating in a research report on Friday. Wells Fargo & Company dropped their target price on Adobe from $420.00 to $405.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. HSBC set a $302.00 price target on shares of Adobe in a report on Friday, February 13th. KeyCorp lowered their price objective on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $347.85.

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.