Mogy Joel R Investment Counsel Inc. Cuts Holdings in Adobe Inc. $ADBE

Mogy Joel R Investment Counsel Inc. lowered its position in Adobe Inc. (NASDAQ:ADBE) by 29.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,664 shares of the software company’s stock after selling 20,929 shares during the quarter. Adobe accounts for 1.0% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 25th biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Adobe were worth $17,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lathrop Investment Management Co. grew its stake in shares of Adobe by 2.8% in the second quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares in the last quarter. Mcdaniel Terry & Co. boosted its stake in shares of Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock valued at $15,284,000 after purchasing an additional 1,093 shares during the period. Jackson Thornton Wealth Management LLC acquired a new stake in Adobe during the 2nd quarter valued at $328,000. Svenska Handelsbanken AB publ purchased a new stake in Adobe during the 3rd quarter worth $34,922,000. Finally, Bourgeon Capital Management LLC lifted its holdings in Adobe by 41.0% in the 2nd quarter. Bourgeon Capital Management LLC now owns 24,680 shares of the software company’s stock worth $9,548,000 after buying an additional 7,176 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADBE shares. Piper Sandler lowered their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. DA Davidson restated a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Thursday, December 11th. 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. Barclays reaffirmed an “overweight” rating and issued a $415.00 price target on shares of Adobe in a report on Friday, December 5th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average target price of $417.93.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the transaction, the chief accounting officer directly owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Trading Up 0.2%

Adobe stock opened at $353.80 on Friday. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $465.70. The firm’s 50-day moving average is $338.76 and its 200-day moving average is $353.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00. The company has a market cap of $148.10 billion, a P/E ratio of 21.17, a PEG ratio of 1.39 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping 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 firm had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. During the same quarter in the prior year, the business earned $4.81 earnings per share. Adobe’s quarterly 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. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current 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.