Adobe Inc. $ADBE Shares Sold by Teamwork Financial Advisors LLC

Key Points

• Teamwork Financial Advisors LLC cut its Adobe stake by 90.6% in the third quarter, selling 14,496 shares and retaining 1,502 shares valued at approximately $360,000. Institutional investors and hedge funds collectively own 81.79% of Adobe.
• Analyst sentiment is mixed, with nine Buy, 20 Hold, and seven Sell ratings. Adobe has a consensus Hold rating and an average price target of $283.90.
• Adobe reported quarterly earnings of $6.13 per share and revenue of $6.76 billion, exceeding analyst estimates, while revenue increased 12.9% year over year. Shares recently traded at $247.09, well below the 12-month high of $363.70.

Teamwork Financial Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 90.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,502 shares of the software company's stock after selling 14,496 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Adobe were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Adobe in the 2nd quarter valued at $8,437,821,000. Johnson Financial Group Inc. acquired a new position in Adobe in the second quarter valued at $2,289,000. Biondo Investment Advisors LLC acquired a new stake in Adobe during the second quarter worth about $2,647,000. Summit Global Investments purchased a new position in shares of Adobe in the 2nd quarter worth about $1,401,000. Finally, Tejara Capital Ltd acquired a new position in Adobe in the second quarter worth $3,461,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Adobe from $200.00 to $225.00 and gave the company a "hold" rating in a report on Wednesday, September 9th. Citigroup reaffirmed a "market perform" rating on shares of Adobe in a report on Friday, September 11th. JPMorgan Chase & Co. lowered their target price on Adobe from $340.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, September 11th. Wells Fargo & Company cut Adobe from an "overweight" rating to an "underweight" rating and dropped their price target for the stock from $270.00 to $225.00 in a research report on Monday, October 12th. Finally, Phillip Securities downgraded Adobe from a "strong-buy" rating to a "hold" rating and cut their price target for the stock from $368.00 to $203.00 in a report on Monday, June 29th. Nine investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $283.90.

Adobe Stock Performance

Shares of ADBE stock traded up $1.89 during trading hours on Monday, reaching $247.09. The stock had a trading volume of 2,924,226 shares, compared to its average volume of 5,697,409. 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 twelve month low of $190.12 and a twelve month high of $363.70. The firm has a 50-day simple moving average of $256.05 and a 200-day simple moving average of $243.01. The firm has a market capitalization of $96.17 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $6.69 billion. Adobe had a net margin of 28.05% and a return on equity of 65.65%. Adobe's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $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. As a group, equities analysts forecast that Adobe Inc. will post 20.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Shantanu Narayen sold 74,500 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was 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 directly owned 289,224 shares of the company's stock, valued at $72,757,189.44. This represents a 20.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 416 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value 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 approximately $1,010,797.92. The trade was a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 125,416 shares of company stock valued at $31,454,466 over the last three months. Corporate insiders own 0.20% of the company's stock.

Adobe Company 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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