Saratoga Research & Investment Management Sells 5,551 Shares of Adobe Inc. $ADBE

Posted by Francis Steltz on May 17th, 2026

Saratoga Research & Investment Management cut its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,153 shares of the software company’s stock after selling 5,551 shares during the quarter. Adobe accounts for about 0.7% of Saratoga Research & Investment Management’s portfolio, making the stock its 29th biggest holding. Saratoga Research & Investment Management’s holdings in Adobe were worth $12,653,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Beacon Financial Advisory LLC lifted its holdings in Adobe by 5.5% during the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock worth $204,000 after purchasing an additional 30 shares during the last quarter. MCF Advisors LLC lifted its holdings in Adobe by 20.8% during the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock worth $61,000 after purchasing an additional 30 shares during the last quarter. SWAN Capital LLC lifted its holdings in Adobe by 43.1% during the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after purchasing an additional 31 shares during the last quarter. Logan Capital Management Inc. lifted its holdings in Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock worth $3,453,000 after purchasing an additional 32 shares during the last quarter. Finally, Andina Capital Management LLC lifted its holdings in Adobe by 6.0% during the 3rd quarter. Andina Capital Management LLC now owns 583 shares of the software company’s stock worth $206,000 after purchasing an additional 33 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the transaction, the chief executive officer owned 359,538 shares of the company’s stock, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the completion of the transaction, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 77,091 shares of company stock valued at $18,782,773. Corporate insiders own 0.20% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe’s Digital Media Opportunity?
Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

Adobe Price Performance

Adobe stock opened at $247.60 on Friday. 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 Inc. has a 52 week low of $224.13 and a 52 week high of $422.95. The stock has a market capitalization of $100.08 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The stock has a fifty day moving average of $247.93 and a 200-day moving average of $290.83.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the firm earned $5.08 EPS. Adobe’s revenue 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. On average, sell-side analysts expect that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADBE shares. Wells Fargo & Company dropped their price target on Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Barclays downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $335.00 to $275.00 in a research report on Friday, March 13th. Weiss Ratings downgraded shares of Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Royal Bank Of Canada dropped their price target on shares of Adobe from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, HSBC set a $302.00 price objective on Adobe in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Adobe currently has an average rating of “Hold” and a consensus price target of $338.15.

Check Out Our Latest Stock Report on ADBE

About Adobe

(Free Report)

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.