Penobscot Investment Management Company Inc. Sells 1,620 Shares of Adobe Inc. $ADBE

by · The Markets Daily

Penobscot Investment Management Company Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,510 shares of the software company’s stock after selling 1,620 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Adobe were worth $6,177,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of ADBE. Lathrop Investment Management Co. raised its stake in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock worth $10,269,000 after buying an additional 718 shares during the period. Mcdaniel Terry & Co. grew its stake in 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 acquiring an additional 1,093 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of Adobe by 16.1% during the third quarter. SteelPeak Wealth LLC now owns 29,055 shares of the software company’s stock valued at $10,249,000 after acquiring an additional 4,021 shares in the last quarter. Jackson Thornton Wealth Management LLC acquired a new position in shares of Adobe during the second quarter worth approximately $328,000. Finally, Svenska Handelsbanken AB publ bought a new position in shares of Adobe in the 3rd quarter worth $34,922,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 149 shares of the firm’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 sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

  • Positive Sentiment: Zacks Research raised multiple near‑term and FY2026/2027 EPS forecasts (Q1–Q4 and full‑year upgrades), suggesting a stronger earnings trajectory that supports valuation and investor confidence. This is a clear earnings‑driven positive catalyst for ADBE. Zacks Research Forecasts Adobe’s Q4 Earnings (NASDAQ:ADBE)
  • Positive Sentiment: Piper Sandler reaffirmed an Overweight/Outperform stance and a $470 target after Adobe’s fiscal 2025 results, highlighting the company’s AI leadership, strong revenue and cash flow — a fundamental endorsement that can support upside and investor allocation to the stock. Adobe (ADBE) Reaffirms AI Leadership — Piper Sandler
  • Positive Sentiment: Market commentary points to “strong financial prospects” as a driver of ADBE momentum—investor focus on recurring revenue growth, margin strength and AI product optionality is supporting sentiment. Are Strong Financial Prospects Driving Adobe’s Momentum? (Yahoo)
  • Neutral Sentiment: Analyst consensus and valuation context remain mixed: sell‑side consensus EPS cited in the reports (~$16.65) differs from the higher Zacks/FY2026–27 upgrades, leaving room for re‑rating if company execution matches raised estimates. Investors should watch upcoming guidance and quarterly results for confirmation.
  • Negative Sentiment: Short‑term weakness vs. peers: a note that Adobe “underperformed Friday when compared to competitors” signals relative‑performance pressure and may trigger tactical selling or sector rotation even as fundamental outlooks are upgraded. Adobe Inc. stock underperforms Friday vs competitors (MSN)

Adobe Trading Down 4.8%

NASDAQ:ADBE opened at $333.30 on Friday. Adobe Inc. has a 52 week low of $311.58 and a 52 week high of $465.70. The firm has a 50-day moving average price of $338.29 and a two-hundred day moving average price of $351.45. 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 firm has a market cap of $139.52 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.31 and a beta of 1.53.

Adobe (NASDAQ:ADBE – Get Free Report) last announced 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. The firm had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business 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, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ADBE shares. Piper Sandler decreased their price target on shares of Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Wolfe Research lowered their target price on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. Stifel Nicolaus dropped their price target on shares of Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $430.00 price target on shares of Adobe in a research note on Thursday, December 11th. Finally, Jefferies Financial Group lowered their price objective on Adobe from $590.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $417.93.

View Our Latest Report on Adobe

About Adobe

(Free Report)

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.

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