Legacy Private Trust Co. Lowers Stock Holdings in Adobe Inc. $ADBE

Legacy Private Trust Co. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 84.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 860 shares of the software company’s stock after selling 4,628 shares during the period. Legacy Private Trust Co.’s holdings in Adobe were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ADBE. Schmidt P J Investment Management Inc. lifted its position in Adobe by 2.9% during the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the period. Rise Advisors LLC increased its stake in shares of Adobe by 7.0% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after acquiring an additional 27 shares during the last quarter. FSM Wealth Advisors LLC lifted its holdings in shares of Adobe by 1.1% during the 2nd quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after acquiring an additional 30 shares during the period. Intellus Advisors LLC lifted its holdings in shares of Adobe by 1.6% during the 2nd quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisory Group Advisory Services LLC boosted its position in shares of Adobe by 2.2% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 1,442 shares of the software company’s stock worth $558,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADBE. Barclays reaffirmed an “overweight” rating and set a $415.00 price target on shares of Adobe in a research note on Friday, December 5th. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adobe in a report on Wednesday. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $417.93.

Adobe Trading Up 0.3%

NASDAQ ADBE opened at $355.81 on Friday. The stock has a market cap of $148.94 billion, a P/E ratio of 21.29, a PEG ratio of 1.40 and a beta of 1.54. The company’s fifty day simple moving average is $336.37 and its 200-day simple moving average is $356.18. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $465.70.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.11 billion. During the same period last year, the business earned $4.81 EPS. The business’s 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. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.