2,984 Adobe Inc. $ADBE Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,649 shares of the software company’s stock after selling 2,984 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Adobe were worth $10,473,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADBE. United Advisor Group LLC purchased a new stake in Adobe in the 3rd quarter valued at about $382,000. Plancorp LLC purchased a new position in shares of Adobe during the 3rd quarter worth about $284,000. Carmel Capital Partners LLC acquired a new stake in shares of Adobe in the third quarter worth approximately $662,000. Phoenix Wealth Advisors acquired a new stake in shares of Adobe in the third quarter worth approximately $205,000. Finally, Alps Advisors Inc. grew its holdings in Adobe by 36.3% in the third quarter. Alps Advisors Inc. now owns 9,997 shares of the software company’s stock valued at $2,399,000 after purchasing an additional 2,661 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is bringing its CX Enterprise Coworker marketing agent to ChatGPT, Claude, Gemini, Microsoft Copilot and other platforms. The move could extend Adobe’s reach and help it compete as businesses adopt AI tools. Adobe brings CX Enterprise Coworker to major AI platforms
• Neutral Sentiment: Adobe is adjusting its strategy in response to AI-related risks. The strategic shift may help it adapt, though the articles do not establish whether it will translate into stronger growth or results. Adobe Stock: Buy or Sell?
• Negative Sentiment: Citi downgraded Adobe to Sell and set a $207 price target, citing the risk of a “hard reset” and a weaker fiscal 2027 outlook. The downgrade adds to concerns about Adobe’s growth trajectory; a related report says the stock is down 29% in 2026. Adobe Is Down 29% This Year. Time to Sell or Buy More?

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADBE. HSBC lowered shares of Adobe from a “buy” rating to a “hold” rating and dropped their price target for the stock from $310.00 to $267.00 in a research report on Tuesday, October 13th. Morgan Stanley reiterated an “underweight” rating on shares of Adobe in a report on Friday, September 11th. Robert W. Baird boosted their price objective on shares of Adobe from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. TD Cowen restated a “hold” rating and set a $245.00 price objective on shares of Adobe in a report on Wednesday, September 9th. Finally, Sanford C. Bernstein cut their target price on Adobe from $379.00 to $373.00 and set an “outperform” rating on the stock 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 stock presently has an average rating of “Hold” and a consensus target price of $282.52.

Insider Activity

In other news, CEO Shantanu Narayen sold 50,500 shares of Adobe stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $249.57, for a total transaction of $12,603,285.00. Following the sale, the chief executive officer owned 238,724 shares in the company, valued at $59,578,348.68. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Adobe Trading Down 2.9%

ADBE traded down $7.14 during trading on Friday, hitting $239.30. 3,295,382 shares of the company’s stock were exchanged, compared to its average volume of 4,311,005. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $362.71. The stock has a 50 day moving average price of $251.24 and a 200 day moving average price of $249.62. The firm has a market cap of $93.14 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.88 and a beta of 1.37.

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

Adobe Company Profile

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.

Through its Digital Experience business, Adobe provides tools for managing digital marketing, customer experiences, analytics and commerce.