35,213 Adobe Inc. $ADBE Shares Sold by WASHINGTON TRUST Co

Key Points

• WASHINGTON TRUST Co. cut its Adobe stake by 89.9% in the third quarter, selling 35,213 shares and retaining 3,974 shares valued at approximately $954,000. Institutional investors and hedge funds still own 81.79% of Adobe.
• Adobe exceeded quarterly earnings and revenue expectations, reporting $6.13 in EPS and $6.76 billion in revenue, while maintaining its fiscal 2026 guidance. However, investors remain concerned about AI-driven disruption, monetization and slowing growth.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $283.90. Adobe’s CEO and other insiders have also sold shares, including the CEO’s sale of 50,500 shares for approximately $12.6 million.

WASHINGTON TRUST Co lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 89.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,974 shares of the software company's stock after selling 35,213 shares during the period. WASHINGTON TRUST Co's holdings in Adobe were worth $954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Investment Research & Advisory Group Inc. grew its holdings in Adobe by 185.7% during the third quarter. Investment Research & Advisory Group Inc. now owns 100 shares of the software company's stock worth $25,000 after acquiring an additional 65 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new position in Adobe in the second quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Adobe in the second quarter valued at approximately $28,000. North Point Portfolio Managers Corp OH acquired a new position in Adobe in the third quarter valued at approximately $30,000. Finally, Bullock Wealth Management Group boosted its position in Adobe by 468.2% in the 3rd quarter. Bullock Wealth Management Group now owns 125 shares of the software company's stock worth $30,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe continues to benefit from high margins, substantial free cash flow, a large user base and recurring-revenue growth. Supporters argue that the stock’s relatively low valuation and continued annual recurring revenue buildup create potential for a turnaround. Adobe: Deep Value Amid Continued ARR Buildup
• Positive Sentiment: Recent AI-related partnerships, including an expanded relationship with NVIDIA and a new deal making Adobe the official AI fan-experience partner of BWT Alpine Formula One, reinforce the company’s effort to demonstrate practical uses for its AI tools and expand its brand reach. Adobe and BWT Alpine Formula One Team Partner
• Positive Sentiment: Adobe recently exceeded analysts’ quarterly EPS and revenue estimates, while management maintained fiscal 2026 earnings guidance. Those results provide fundamental support even as the share price has lagged broader technology benchmarks.
• Neutral Sentiment: Wall Street is divided: some analysts see substantial upside if Adobe converts its AI investments into monetized growth, while others remain cautious. Articles comparing Adobe with Salesforce, CrowdStrike and Arista Networks highlight that the stock’s appeal depends on an investor’s preference for valuation and profitability versus faster growth. Adobe Stock Has Been Under Pressure
• Negative Sentiment: The principal overhang is AI disruption risk. Investors remain concerned that competing tools from companies such as Anthropic and Google could reduce demand for Adobe’s traditional applications or pressure pricing through “app-less” creative workflows. Adobe: Strong Fundamentals, But AI Remains the Key Risk
• Negative Sentiment: The stock’s decline despite repeated earnings outperformance signals that investors want clearer evidence of accelerating growth and successful AI monetization before assigning Adobe a higher multiple.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 50,500 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $249.57, for a total transaction of $12,603,285.00. Following the transaction, the chief executive officer directly owned 238,724 shares of the company's stock, valued at $59,578,348.68. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the sale, the chief accounting officer owned 3,824 shares in the company, valued at approximately $1,010,797.92. This trade represents a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 125,416 shares of company stock valued at $31,454,466. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADBE shares. Evercore set a $250.00 price objective on shares of Adobe in a research note on Friday, September 11th. UBS Group boosted their target price on shares of Adobe from $225.00 to $255.00 and gave the company a "neutral" rating in a research note on Friday, September 11th. Phillip Securities downgraded shares of Adobe from a "strong-buy" rating to a "hold" rating and lowered their price target for the stock from $368.00 to $203.00 in a report on Monday, June 29th. Royal Bank Of Canada restated an "outperform" rating and set a $315.00 price target on shares of Adobe in a research report on Friday, September 11th. Finally, CLSA started coverage on shares of Adobe in a research report on Monday, July 20th. They set an "outperform" rating and a $300.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $283.90.

Adobe Price Performance

ADBE stock traded down $6.73 during mid-day trading on Friday, reaching $263.82. 3,128,994 shares of the company's stock were exchanged, compared to its average volume of 4,335,550. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.77 and a quick ratio of 0.77. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $363.70. The stock's 50 day moving average is $255.83 and its 200 day moving average is $243.54. The company has a market cap of $102.68 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 10th. The software company reported $6.13 EPS for the quarter, beating analysts' consensus estimates of $6.08 by $0.05. Adobe had a return on equity of 65.65% and a net margin of 28.05%. The business had revenue of $6.76 billion during the quarter, compared to analysts' expectations of $6.69 billion. During the same period in the previous year, the business earned $5.31 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. On average, research analysts expect that Adobe Inc. will post 20.01 EPS for the current year.

Adobe Profile

Adobe Inc is a global software company that develops digital tools for creative professionals, businesses, marketers, and individual users. Its products help customers create, edit, publish, manage, and measure digital content across websites, mobile applications, documents, and other media.

The company's Creative Cloud portfolio includes applications such as Photoshop, Illustrator, InDesign, Premiere Pro, and Acrobat. Adobe also offers Document Cloud, which provides tools for creating, editing, sharing, signing, and managing digital documents, and Experience Cloud, a suite of solutions for digital marketing, analytics, commerce, customer journeys, and content management.

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