4,430 Adobe Inc. $ADBE Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Adobe position by 15%, purchasing 4,430 shares to hold 33,919 shares valued at approximately $8.18 million. Institutional investors and hedge funds collectively own 81.79% of Adobe’s stock.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $283.90; nine analysts recommend buying, 20 recommend holding, and seven recommend selling.
• Adobe recently exceeded quarterly earnings and revenue expectations, reporting $6.13 in EPS and $6.76 billion in revenue, up 12.9% year over year. However, concerns include slowing organic growth, competition, pricing pressure, and uncertainty over whether its AI investments will translate into sufficient revenue.

NorthCrest Asset Manangement LLC increased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,919 shares of the software company's stock after buying an additional 4,430 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Adobe were worth $8,176,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Adobe during the 2nd quarter worth $8,437,821,000. Johnson Financial Group Inc. acquired a new position in shares of Adobe in the 2nd quarter worth $2,289,000. Biondo Investment Advisors LLC acquired a new stake in shares of Adobe during the second quarter worth $2,647,000. Summit Global Investments acquired a new stake in shares of Adobe during the second quarter worth $1,401,000. Finally, Tejara Capital Ltd acquired a new stake in shares of Adobe during the second quarter worth $3,461,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. Jefferies Financial Group cut their price objective on Adobe from $285.00 to $275.00 and set a "hold" rating on the stock in a report on Friday, September 11th. Weiss Ratings raised shares of Adobe from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, September 1st. Phillip Securities cut shares of Adobe from a "strong-buy" rating to a "hold" rating and decreased their target price for the stock from $368.00 to $203.00 in a report on Monday, June 29th. Citigroup reissued a "market perform" rating on shares of Adobe in a research report on Friday, September 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Adobe from $190.00 to $200.00 and gave the company a "sell" rating in a report on Monday, September 14th. Nine analysts have rated the stock with a Buy rating, twenty have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of "Hold" and a consensus price target of $283.90.

Adobe Stock Performance

Shares of ADBE stock opened at $238.14 on Tuesday. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $363.70. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $92.68 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.84 and a beta of 1.42. The stock's fifty day simple moving average is $257.94 and its 200-day simple moving average is $242.84.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.05. The firm had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.69 billion. Adobe had a return on equity of 65.65% and a net margin of 28.05%. Adobe's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $5.31 earnings per share. 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, sell-side analysts predict that Adobe Inc. will post 20.01 earnings per share for the current fiscal year.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s AI expansion continues to produce new commercial opportunities. The company extended its partnership with Heathrow Airport to use AI agents across digital and physical passenger experiences serving more than 84 million annual travelers. Adobe Heathrow AI partnership
• Positive Sentiment: Some analysts view ADBE as undervalued following recent weakness, pointing to its history of beating earnings estimates, raising guidance, strong profitability, and potential upside if its AI investments accelerate growth. Adobe’s latest reported quarter included revenue growth of 12.9% and an earnings beat. Adobe stock looks undervalued
• Neutral Sentiment: Adobe is trading at a relatively modest valuation after substantial share-price deterioration, with a reported price-to-earnings ratio near 13.3. However, investors appear to be placing greater weight on future growth risks than on current earnings performance.
• Negative Sentiment: Wells Fargo downgraded Adobe two notches to Underweight from Equal Weight and reduced its price target to $225 from $270. The firm cited deteriorating organic growth, executive instability, reduced pricing power, rising competition, and difficulty converting AI investment into revenue. Wells Fargo downgrades Adobe
• Negative Sentiment: Wells Fargo’s CIO survey reportedly indicated that Adobe is losing a share of enterprise AI budgets, raising doubts about whether the company can nearly double new recurring revenue to meet its targets.
• Negative Sentiment: Free, AI-built alternatives are attempting to replicate Adobe’s Creative Cloud applications, while new tools also target Microsoft Office. Although the products may not yet match Adobe’s capabilities, their emergence reinforces concerns about subscription churn, pricing pressure, and disruption to Adobe’s creative software franchise. AI-built Adobe alternatives

Insider Activity

In other news, CAO Jillian Forusz sold 416 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the transaction, the chief accounting officer owned 3,824 shares in the company, valued at $1,010,797.92. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 74,500 shares of the company's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $251.56, for a total value of $18,741,220.00. Following the completion of the transaction, the chief executive officer owned 289,224 shares in the company, valued at $72,757,189.44. This represents a 20.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 125,416 shares of company stock worth $31,454,466. Company insiders own 0.20% of the company's stock.

Adobe Company Profile

Adobe Inc NASDAQ: ADBE is a global software company that develops tools for creating, managing, delivering and analyzing digital content. Its products serve creative professionals, marketers, enterprises, students and individual consumers across a broad range of industries and geographies.

Adobe's Creative Cloud portfolio includes applications such as Photoshop, Illustrator, Premiere Pro, InDesign and Adobe Express for graphic design, photography, video, illustration and digital content creation.

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