Norris Perne & French LLP MI Cuts Stake in Adobe Inc. $ADBE

Norris Perne & French LLP MI decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 24.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,928 shares of the software company’s stock after selling 16,630 shares during the period. Adobe makes up 1.3% of Norris Perne & French LLP MI’s portfolio, making the stock its 29th biggest position. Norris Perne & French LLP MI’s holdings in Adobe were worth $18,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. FLC Capital Advisors boosted its holdings in Adobe by 14.7% in the 3rd quarter. FLC Capital Advisors now owns 2,220 shares of the software company’s stock worth $783,000 after acquiring an additional 285 shares during the period. Dumont & Blake Investment Advisors LLC lifted its position in shares of Adobe by 2.0% during the third quarter. Dumont & Blake Investment Advisors LLC now owns 1,860 shares of the software company’s stock worth $656,000 after purchasing an additional 36 shares in the last quarter. Three Seasons Wealth LLC boosted its stake in shares of Adobe by 8.8% in the third quarter. Three Seasons Wealth LLC now owns 2,731 shares of the software company’s stock valued at $963,000 after purchasing an additional 221 shares during the period. Tealwood Asset Management Inc. boosted its stake in shares of Adobe by 2.5% in the third quarter. Tealwood Asset Management Inc. now owns 3,722 shares of the software company’s stock valued at $1,313,000 after purchasing an additional 91 shares during the period. Finally, Fire Capital Management LLC grew its holdings in Adobe by 5.3% during the 3rd quarter. Fire Capital Management LLC now owns 3,452 shares of the software company’s stock valued at $1,218,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Barclays reissued an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a research report on Friday, December 5th. TD Cowen cut their price target on Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Wolfe Research lowered their price objective on Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, December 11th. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a report on Monday, December 22nd. Finally, BMO Capital Markets reduced their target price on Adobe from $405.00 to $400.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and a consensus price target of $417.93.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer directly 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 Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Adobe Stock Up 0.2%

Shares of Adobe stock opened at $353.80 on Monday. The business has a 50-day moving average price of $338.76 and a 200 day moving average price of $352.87. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $465.70. The firm has a market cap of $148.10 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.39 and a beta of 1.54. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping the consensus estimate of $5.40 by $0.10. The company had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Profile

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.