Adobe Inc. $ADBE Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 82.4% during the third quarter, Holdings Channel reports. The institutional investor owned 9,929 shares of the software company’s stock after selling 46,395 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Adobe were worth $3,502,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Adobe in the 2nd quarter valued at approximately $2,029,950,000. Invesco Ltd. grew its stake in shares of Adobe by 16.1% during the second quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock worth $1,705,043,000 after purchasing an additional 610,215 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Adobe by 17.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock valued at $1,417,587,000 after buying an additional 548,903 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Adobe by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,922,630 shares of the software company’s stock valued at $1,130,707,000 after buying an additional 24,333 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Adobe by 3.8% in the second quarter. Schroder Investment Management Group now owns 2,137,724 shares of the software company’s stock valued at $827,043,000 after buying an additional 78,186 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADBE. Barclays reiterated an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a report on Friday, December 5th. TD Cowen dropped their price target on shares of Adobe from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Stifel Nicolaus cut their price objective on shares of Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Wells Fargo & Company reduced their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group started coverage on shares of Adobe in a research report on Monday, January 12th. They issued a “sell” rating and a $290.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $397.19.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $304.72 on Tuesday. Adobe Inc. has a one year low of $288.33 and a one year high of $465.70. The stock has a market capitalization of $125.09 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.18 and a beta of 1.53. The company has a 50-day simple moving average of $330.69 and a 200-day simple moving average of $343.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.00.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.40 by $0.10. The firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Adobe Company 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.