Pitcairn Co. Sells 1,460 Shares of Adobe Inc. $ADBE

by · The Cerbat Gem

Pitcairn Co. lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,389 shares of the software company’s stock after selling 1,460 shares during the period. Pitcairn Co.’s holdings in Adobe were worth $2,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1248 Management LLC purchased a new position in Adobe during the 1st quarter valued at $25,000. LSV Asset Management lifted its position in shares of Adobe by 350.0% during the second quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Adobe during the first quarter worth $29,000. Nexus Investment Management ULC purchased a new stake in shares of Adobe during the second quarter valued at $31,000. Finally, Horizon Financial Services LLC grew its holdings in shares of Adobe by 4,000.0% in the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $430.00 price objective on shares of Adobe in a report on Thursday. Oppenheimer reduced their target price on shares of Adobe from $460.00 to $430.00 and set an “outperform” rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their price target on shares of Adobe from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a research note on Thursday. Finally, Stifel Nicolaus decreased their target price on Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. One research 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 issued a Sell rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus price target of $417.33.

Check Out Our Latest Research Report on ADBE

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe 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 transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The transaction 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 Price Performance

NASDAQ ADBE opened at $356.43 on Monday. The company has a market cap of $149.20 billion, a PE ratio of 21.33, a P/E/G ratio of 1.41 and a beta of 1.54. The firm’s 50 day moving average price is $336.07 and its 200-day moving average price is $357.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $474.91.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The company had revenue of $6.19 billion during 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 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. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE – Free Report).