Adobe Inc. $ADBE Stock Sold by Narwhal Capital Management

Narwhal Capital Management decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 62.2% during the third quarter, Holdings Channel reports. The institutional investor owned 3,536 shares of the software company’s stock after selling 5,821 shares during the quarter. Narwhal Capital Management’s holdings in Adobe were worth $848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Investment Research & Advisory Group Inc. boosted its position in Adobe by 185.7% in the 3rd quarter. Investment Research & Advisory Group Inc. now owns 100 shares of the software company’s stock worth $25,000 after purchasing an additional 65 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Adobe during the 2nd quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Adobe during the 2nd quarter valued at approximately $28,000. Latitude Advisors LLC purchased a new position in shares of Adobe during the 3rd quarter valued at approximately $29,000. Finally, North Point Portfolio Managers Corp OH purchased a new position in shares of Adobe during the 3rd quarter valued at approximately $30,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 74,500 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the transaction, the chief executive officer directly owned 289,224 shares of the company’s stock, valued at $72,757,189.44. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Adobe Trading Down 0.3%

Shares of ADBE stock opened at $236.70 on Wednesday. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $362.71. The company has a market cap of $92.12 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day simple moving average of $249.04 and a 200-day simple moving average of $249.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.05. Adobe had a net margin of 28.05% and a return on equity of 65.65%. The firm had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter last year, the company earned $5.31 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. On average, equities research analysts expect that Adobe Inc. will post 20.01 EPS for the current fiscal year.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: At Adobe MAX, the company introduced AI-agent features across Creative Cloud and Firefly to automate creative workflows. These tools could strengthen Adobe’s products and support customer retention and monetization. Adobe Creative Cloud agentic workflow announcement
• Positive Sentiment: Adobe and Google expanded their partnership, bringing Adobe tools into Google Workspace and Google AI models into more Adobe apps—potentially widening distribution and making workflows more integrated. Adobe and Google partnership announcement
• Positive Sentiment: Disney selected Adobe to develop custom AI models for media operations, adding a high-profile enterprise relationship that could demonstrate demand for Adobe’s AI offerings. Reuters report on Disney and Adobe
• Negative Sentiment: The Google tie-up also arrives as Gemini expands across Adobe apps, raising questions about how Adobe will differentiate and capture value as outside AI models become more available in its software. Report on Gemini in Adobe apps
• Negative Sentiment: Investors may also remain cautious after Citi warned that Adobe’s fiscal 2027 growth estimates could be too high, a concern that new product announcements have yet to resolve. Coverage of Citi’s Adobe downgrade

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup lowered shares of Adobe from a “neutral” rating to a “sell” rating and dropped their price target for the company from $250.00 to $207.00 in a research report on Wednesday, November 4th. Stifel Nicolaus upped their price objective on shares of Adobe from $200.00 to $225.00 and gave the stock a “hold” rating in a research report on Wednesday, September 9th. Jefferies Financial Group lowered their target price on shares of Adobe from $285.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, September 11th. TD Cowen reissued a “hold” rating and set a $245.00 target price on shares of Adobe in a research note on Wednesday, September 9th. Finally, Robert W. Baird raised their target price on Adobe from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, September 11th. Nine investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $282.52.

About Adobe

Adobe Inc. develops software and services for creating, managing and delivering digital content. Its products serve creative professionals, businesses, marketers and individual users around the world. Adobe’s Digital Media offerings include Creative Cloud applications such as Photoshop, Illustrator, Premiere Pro and InDesign, along with Acrobat tools for creating, editing and signing PDF documents. The company also provides generative AI capabilities through Adobe Firefly and related features in its creative products.