Adobe Inc. $ADBE Stock Holdings Lessened by Evercore Wealth Management LLC

Evercore Wealth Management LLC cut its stake in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 3.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 202,873 shares of the software company’s stock after selling 7,760 shares during the period. Evercore Wealth Management LLC owned about 0.05% of Adobe worth $49,314,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADBE. SWAN Capital LLC grew its holdings in shares of Adobe by 43.1% during the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock valued at $36,000 after acquiring an additional 31 shares in the last quarter. Logan Capital Management Inc. raised its holdings in shares of Adobe by 0.3% during the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock worth $3,453,000 after acquiring an additional 32 shares in the last quarter. Marquette Asset Management LLC boosted its position in Adobe by 72.3% during the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. Vista Capital Partners Inc. boosted its position in Adobe by 5.8% during the second quarter. Vista Capital Partners Inc. now owns 624 shares of the software company’s stock valued at $241,000 after purchasing an additional 34 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its stake in Adobe by 5.4% in the fourth quarter. Nova Wealth Management Inc. now owns 683 shares of the software company’s stock valued at $239,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, Director David A. Ricks acquired 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ADBE shares. The Goldman Sachs Group dropped their target price on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research report on Friday, June 12th. DA Davidson reduced their price target on Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, June 12th. Barclays lowered their price target on Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, June 12th. Wolfe Research downgraded Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday, June 12th. Finally, Dbs Bank lowered shares of Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $271.30.

Read Our Latest Analysis on ADBE

Adobe Stock Performance

ADBE opened at $237.75 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $94.51 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The stock has a 50-day moving average of $226.42 and a 200-day moving average of $250.59. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16.

Adobe (NASDAQ:ADBEGet Free Report) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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