Carnegie Investment Counsel Trims Stake in Adobe Inc. $ADBE

Key Points

• Carnegie Investment Counsel cut its stake in Adobe Inc. (NASDAQ:ADBE) by 41.2% in Q4, selling 5,628 shares and leaving 8,016 shares worth $2.806 million.
• Adobe beat Q1 revenue and EPS and reaffirmed FY‑2026 guidance, but the stock has hit a 52‑week low amid AI‑competition concerns, analyst downgrades and sector rotation, resulting in mixed analyst ratings and a consensus "Hold."
• CFO Daniel Durn sold 1,646 shares in January and corporate insiders now own just 0.20% of the company, while institutional investors hold 81.79%.

Carnegie Investment Counsel decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 41.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,016 shares of the software company's stock after selling 5,628 shares during the period. Carnegie Investment Counsel's holdings in Adobe were worth $2,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverbend Wealth Management LLC grew its holdings in shares of Adobe by 1.8% during the 3rd quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company's stock worth $588,000 after acquiring an additional 29 shares during the period. Beacon Financial Advisory LLC grew its position in shares of Adobe by 5.5% in the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company's stock worth $204,000 after buying an additional 30 shares during the period. MCF Advisors LLC grew its position in shares of Adobe by 20.8% in the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company's stock worth $61,000 after buying an additional 30 shares during the period. Dakota Community Bank & Trust NA grew its position in shares of Adobe by 12.8% in the 2nd quarter. Dakota Community Bank & Trust NA now owns 274 shares of the software company's stock worth $106,000 after buying an additional 31 shares during the period. Finally, Orrstown Financial Services Inc. grew its position in shares of Adobe by 1.2% in the 3rd quarter. Orrstown Financial Services Inc. now owns 2,628 shares of the software company's stock worth $927,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe reported strong Q1 results (beat on revenue and EPS) and reaffirmed FY‑2026 guidance, giving fundamental support to the shares. Adobe: Hated, Cheap, And Growing
• Positive Sentiment: Contrarian investors point to cheaper valuation metrics (low forward P/E, strong free cash flow growth) and accelerating AI adoption in Adobe products as a potential buying opportunity. Adobe Stock (ADBE) Opinions on SaaS Selloff and AI Disruption
• Neutral Sentiment: Analyst views and price targets remain widely dispersed (median targets well above current levels), so future moves will hinge on conviction among sell‑side firms. Adobe Stock (ADBE) Opinions on SaaS Selloff and AI Disruption
• Neutral Sentiment: Macro/sector commentary (buy hardware, sell software) is driving rotation away from large SaaS names; Adobe’s longer‑term fundamentals remain intact but the sector backdrop is headwind. Cramer explains the divergence in tech stocks – and why software may continue to lag
• Negative Sentiment: Citi downgraded Adobe amid renewed AI‑competition concerns and cut its price target, crystallizing investor fear that generative AI could commoditize parts of Adobe’s moat. Citi Turns on Adobe Stock (ADBE), Other Software Names amid Fresh AI Jitters
• Negative Sentiment: Shares hit a 52‑week low as the selloff accelerated on the combination of AI jitters, analyst downgrades and leadership transition chatter. Adobe Stock Sinks to 52-Week Low -- Citi Downgrades on AI Fears
• Negative Sentiment: Security headlines about an Adobe Reader zero‑day being exploited add reputational and support‑cost risk (unlikely to drive fundamentals long‑term but a near‑term negative headline). Adobe Reader Zero-Day Exploited for Months: Researcher

Adobe Stock Performance

Shares of ADBE stock opened at $225.35 on Friday. Adobe Inc. has a one year low of $224.13 and a one year high of $422.95. The company's 50-day moving average is $256.83 and its 200 day moving average is $307.20. The company has a market capitalization of $91.09 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the firm posted $5.08 EPS. Adobe's revenue for the quarter was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the sale, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ADBE shares. Piper Sandler reduced their target price on shares of Adobe from $330.00 to $280.00 and set a "neutral" rating on the stock in a research report on Friday, March 13th. Argus reaffirmed a "hold" rating on shares of Adobe in a research report on Monday, March 16th. Sanford C. Bernstein set a $447.00 target price on shares of Adobe and gave the stock an "outperform" rating in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Adobe in a research note on Friday, March 13th. Finally, KeyCorp cut their price target on Adobe from $310.00 to $235.00 and set an "underweight" rating on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $343.88.

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.

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