LGT Group Foundation Reduces Position in Adobe Inc. $ADBE

Key Points

• LGT Group Foundation cut its stake in Adobe by 48.9% in Q3, selling 19,979 shares and leaving it with 20,846 shares valued at about $7.17 million per the latest 13F filing.
• Investor and analyst signals are mixed: positive developments include an expanded MLB partnership and reported accumulation by Michael Burry, while several firms have trimmed price targets; the consensus rating remains a "Hold" with a $386.08 target.
• Near‑term catalyst is Adobe's upcoming earnings (March 12); management guided Q1 2026 EPS to 5.850–5.900 and FY 2026 EPS to 23.300–23.500, with the stock trading around $282 and a PE of ~16.9.

LGT Group Foundation decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 48.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,846 shares of the software company's stock after selling 19,979 shares during the period. LGT Group Foundation's holdings in Adobe were worth $7,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LSV Asset Management raised its holdings in Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company's stock worth $28,000 after purchasing an additional 56 shares during the period. Caitlin John LLC bought a new stake in Adobe during the third quarter valued at about $28,000. Horizon Financial Services LLC increased its position in Adobe by 4,000.0% in the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company's stock worth $32,000 after buying an additional 80 shares in the last quarter. Total Investment Management Inc. purchased a new stake in Adobe in the second quarter worth about $35,000. Finally, Howard Hughes Medical Institute bought a new position in shares of Adobe in the second quarter worth about $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Expanded commercial win: Adobe expanded its multi‑year partnership with Major League Baseball to deliver AI‑driven fan experiences, reinforcing real‑world adoption of Adobe's cloud and AI tools. Adobe and Major League Baseball Expand Partnership
• Positive Sentiment: Notable accumulation: Reports that Michael Burry has taken a sizeable position in ADBE and that hedge funds/institutions have been buyers adds a value-oriented, conviction buyer to the shareholder base, which can support the shares into earnings. Michael Burry Backs Adobe
• Positive Sentiment: Analyst endorsement: Royal Bank of Canada reaffirmed an "outperform" rating with a $430 price target, signaling continued institutional confidence in Adobe’s longer‑term AI/product transition. RBC Outperform
• Neutral Sentiment: Upcoming earnings are the main near‑term catalyst — previews and models expect roughly $6.28B revenue and ~$5.87–5.88 EPS; investors will watch AI product uptake and guidance on March 12. Adobe Q1 Earnings Loom
• Neutral Sentiment: Market calendar/inflation backdrop: Macro reports (CPI/PCE) and broader tech/AI earnings this week could amplify moves in ADBE; these are market‑wide risk factors rather than Adobe‑specific. Oracle, Adobe Earnings and Inflation Data
• Neutral Sentiment: Short‑interest report appears to show zero change (likely a reporting/data anomaly) and thus provides no clear directional signal to the market today.
• Neutral Sentiment: Wells Fargo trimmed its price target from $420 to $405 but kept an "overweight" rating, a mixed signal: lower target but continued long bias. Wells Fargo Target Lowered
• Negative Sentiment: Citi (and other outlets) cut its price target and called for an "uneventful" Q1, which reduces near‑term analyst support and can weigh on sentiment ahead of results. Citi Cuts Price Target
• Negative Sentiment: Minor selling by a public figure (Sen. Boozman) and other reported insider/institutional trades are being noted by markets; although not necessarily indicative of company fundamentals, such sales can pressure sentiment in the short term. Sen. John Boozman Sells Shares

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn sold 1,646 shares of the company's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADBE. DA Davidson reaffirmed a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Thursday, December 11th. HSBC set a $302.00 target price on shares of Adobe in a report on Friday, February 13th. BMO Capital Markets downgraded shares of Adobe from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $400.00 to $375.00 in a report on Friday, January 9th. Morgan Stanley dropped their price target on shares of Adobe from $450.00 to $425.00 and set an "equal weight" rating for the company in a research report on Thursday, December 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Adobe from $420.00 to $405.00 and set an "overweight" rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $386.08.

Adobe Stock Down 0.4%

Shares of ADBE opened at $282.43 on Tuesday. The business's 50 day moving average is $290.24 and its 200 day moving average is $325.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 12-month low of $244.28 and a 12-month high of $444.54. The company has a market capitalization of $115.94 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.53.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping the consensus estimate of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.11 billion. During the same period in the prior year, the company posted $4.81 EPS. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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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