Adobe Inc. $ADBE Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Adobe position by 217.1% in the third quarter, bringing its holdings to 7,823 shares valued at approximately $1.88 million. Institutional investors collectively own 81.79% of Adobe’s stock.
• Adobe reported quarterly revenue of $6.76 billion and EPS of $6.13, exceeding analyst expectations, while maintaining fiscal 2026 guidance for approximately $24.45–$24.50 in EPS. Its expanded NVIDIA partnership also supports the company’s AI-powered product strategy.
• Risks remain: HSBC downgraded Adobe to Hold over potential generative-AI disruption, the consensus analyst rating is Hold, and insiders—including CEO Shantanu Narayen—have sold shares recently.

First Citizens Bank & Trust Co. raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 217.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,823 shares of the software company's stock after purchasing an additional 5,356 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Adobe were worth $1,877,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sankala Group LLC purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Hyposwiss Advisors SA purchased a new position in Adobe in the 4th quarter worth approximately $35,000. Dunhill Financial LLC purchased a new position in Adobe in the 2nd quarter worth approximately $95,000. Strategic Investment Solutions Inc. IL lifted its position in Adobe by 555.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 118 shares of the software company's stock valued at $41,000 after acquiring an additional 100 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH bought a new position in Adobe in the 3rd quarter valued at approximately $30,000. 81.79% of the stock is currently owned by institutional investors.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Expanded NVIDIA partnership supports AI growth narrative. Adobe and NVIDIA will optimize Photoshop, Premiere, Substance 3D, Frame.io and Brand Concierge to accelerate AI-powered creation, production and personalization. The collaboration strengthens Adobe’s positioning in “agentic” creative tools and may improve product performance and enterprise adoption. Adobe and NVIDIA Expand Collaboration to Speed Agentic Creation
• Positive Sentiment: Relief buying followed recent weakness. Investors may be placing greater weight on Adobe’s solid operating results, raised fiscal 2026 outlook and recent AI-related customer wins than on this week’s analyst downgrades. The company recently reported revenue growth and earnings above consensus, with full-year revenue projected at approximately $26.5 billion to $26.6 billion and non-GAAP EPS of about $24.35 to $24.45. Adobe Gains as Investors Appear to Reassess Recent Selloff
• Neutral Sentiment: Market conditions provided an additional tailwind. Adobe was among several software-as-a-service stocks that rebounded as falling Treasury yields brought buyers back after an AI-driven technology selloff. This factor may support the stock near term but is not specific to Adobe’s fundamentals. Adobe, HubSpot, Workday, Asana, and Workiva Shares Are Soaring
• Negative Sentiment: AI disruption concerns remain an overhang. HSBC downgraded Adobe from Buy to Hold, citing risks that generative AI tools and lower-cost or free alternatives could pressure Adobe’s competitive position and long-term growth. Reports highlighting free Adobe alternatives add to those concerns. HSBC Downgrades Adobe Stock Over Growing AI Software Disruption Risks
• Negative Sentiment: Insider selling may temper sentiment. Reported insider activity showed no purchases and multiple sales over the past six months, including sales by CEO Shantanu Narayen. While such transactions do not necessarily indicate deteriorating fundamentals, they can reinforce investor caution.

Adobe Price Performance

Adobe stock opened at $251.67 on Friday. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $363.70. The stock has a market cap of $97.95 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.84 and a beta of 1.42. The firm has a 50-day moving average of $256.97 and a two-hundred day moving average of $242.95. 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 (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.05. The business had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.69 billion. Adobe had a return on equity of 65.65% and a net margin of 28.05%. The business's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.31 EPS. 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 forecast that Adobe Inc. will post 20.01 earnings per share for the current year.

Insider Activity

In other news, CEO Shantanu Narayen sold 74,500 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 289,224 shares of the company's stock, valued at approximately $72,757,189.44. This represents a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jillian Forusz sold 416 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 125,416 shares of company stock worth $31,454,466. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADBE. HSBC downgraded Adobe from a "buy" rating to a "hold" rating and cut their target price for the company from $310.00 to $267.00 in a research note on Tuesday. Piper Sandler boosted their price target on Adobe from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, September 11th. Evercore set a $250.00 price target on Adobe in a report on Friday, September 11th. Robert W. Baird increased their price objective on Adobe from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, September 11th. Finally, Citigroup reiterated a "market perform" rating on shares of Adobe in a report on Friday, September 11th. Nine research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, Adobe has a consensus rating of "Hold" and a consensus price target of $283.90.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.