Simmons Bank lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 53.1% in the first quarter, Holdings Channel reports. The firm owned 6,032 shares of the software company’s stock after selling 6,820 shares during the period. Simmons Bank’s holdings in Adobe were worth $1,466,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Western Pacific Wealth Management LP acquired a new stake in shares of Adobe in the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Adobe during the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Adobe in the 3rd quarter valued at $27,000. Beacon Financial Strategies CORP acquired a new position in Adobe in the 4th quarter valued at $28,000. Finally, Marquette Asset Management LLC raised its holdings in Adobe by 72.3% in the 4th quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. William Blair lowered shares of Adobe from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 26th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. DA Davidson dropped their price objective on Adobe from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. BTIG Research assumed coverage on Adobe in a research report on Monday, April 13th. They set a “neutral” rating for the company. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Adobe in a research note on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $278.16.
Adobe Trading Down 0.7%
Shares of ADBE opened at $205.02 on Wednesday. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $392.58. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $81.50 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.72 and a beta of 1.42. The stock’s 50-day moving average price is $234.94 and its 200 day moving average price is $267.40.
Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the company earned $5.06 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, research analysts predict that Adobe Inc. will post 19.8 earnings per share for the current year.
Adobe declared that its Board of Directors has approved a share repurchase program on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Insider Transactions at Adobe
In related news, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction on 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 $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Ricks purchased 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 77,091 shares of company stock valued at $18,782,773. Company insiders own 0.20% of the company’s stock.
Key Adobe News
Here are the key news stories impacting Adobe this week:
- Positive Sentiment: Adobe launched Firefly Foundry, a new platform for enterprises to build custom generative AI models using approved brand assets and visual standards, reinforcing the company’s AI strategy and creating a potential new revenue driver. Adobe (ADBE) Launches Firefly Foundry to Enable Enterprise Custom AI Model Development
- Positive Sentiment: Several articles argue Adobe may be undervalued after its sharp selloff, with analysts and commentators pointing to strong fundamentals, a solid business model, and improving sentiment around the stock. Adobe: A Strong Business Model That Delivers – A Value Equation Deep Dive
- Positive Sentiment: Adobe’s addition to several Russell value and defensive benchmarks, along with a raised full-year outlook and broader AI upgrades across its product suite, is supporting the investment case. Adobe’s Agentic AI Push and Russell Index Shift Might Change The Case For Investing In Adobe (ADBE)
- Neutral Sentiment: Adobe continues to be one of the most watched software names, with traders focusing on whether the recent reset in valuation makes the stock attractive after its steep decline this year. Adobe Inc. (ADBE) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: Phillip Securities downgraded Adobe from strong-buy to hold, which can weigh on sentiment by signaling less upside from current levels. Adobe downgraded by Phillip Securities
- Negative Sentiment: Some market commentary still highlights investor concern that AI competition could pressure long-term software growth, helping explain why Adobe’s shares have been under heavy pressure despite recent product wins. Are NOW, CRM, WDAY, and ADBE stocks bargains after their valuation reset?
Adobe 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.
Featured Stories
- Five stocks we like better than Adobe
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
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).
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.
