PNC Financial Services Group Inc. Has $36.73 Million Holdings in Adobe Inc. $ADBE

PNC Financial Services Group Inc. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,113 shares of the software company’s stock after selling 4,074 shares during the period. PNC Financial Services Group Inc.’s holdings in Adobe were worth $36,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ADBE. CX Institutional raised its position in Adobe by 72.9% in the third quarter. CX Institutional now owns 27,922 shares of the software company’s stock worth $9,849,000 after acquiring an additional 11,769 shares during the period. Wright Investors Service Inc. increased its stake in shares of Adobe by 114.4% during the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock worth $3,499,000 after purchasing an additional 5,293 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock worth $316,913,000 after purchasing an additional 583,275 shares during the period. Lathrop Investment Management Co. raised its holdings in shares of Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after purchasing an additional 718 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in Adobe by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company’s stock valued at $38,309,000 after purchasing an additional 32,448 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.6%

Shares of Adobe stock opened at $263.97 on Tuesday. Adobe Inc. has a 12-month low of $251.10 and a 12-month high of $464.99. The company has a market cap of $108.36 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.04 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $316.38 and its 200-day moving average price is $334.00.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The company had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $6.11 billion. During the same quarter in the previous year, the company earned $4.81 earnings per share. Adobe’s revenue for the quarter 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. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Thursday, December 11th. Stifel Nicolaus decreased their price objective on Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. BMO Capital Markets downgraded shares of Adobe from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $400.00 to $375.00 in a report on Friday, January 9th. TD Cowen cut their target price on shares of Adobe from $420.00 to $400.00 and set a “hold” rating for the company in a research report on Thursday, December 11th. Finally, Weiss Ratings lowered shares of Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $397.16.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the transaction, the chief financial officer directly owned 41,995 shares in the company, valued at $12,382,225.75. This represents a 3.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.