Sumitomo Mitsui Trust Group Inc. Reduces Stake in Adobe Inc. $ADBE

Posted by Geri Gentry on Jul 9th, 2026

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,069,885 shares of the software company’s stock after selling 70,377 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Adobe were worth $260,068,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ADBE. SWAN Capital LLC lifted its stake in Adobe by 43.1% in the third quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after acquiring an additional 31 shares during the period. Logan Capital Management Inc. increased its position in Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after purchasing an additional 32 shares during the period. Peoples Bank KS raised its holdings in Adobe by 1.6% in the 4th quarter. Peoples Bank KS now owns 2,041 shares of the software company’s stock worth $714,000 after purchasing an additional 33 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Adobe by 16.1% in the 4th quarter. Rosenberg Matthew Hamilton now owns 245 shares of the software company’s stock worth $86,000 after purchasing an additional 34 shares in the last quarter. Finally, Marquette Asset Management LLC lifted its position in shares of 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 purchasing an additional 34 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares in the company, valued at $10,623,440.66. The trade was a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by company insiders.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

Positive Sentiment: HSBC upgraded Adobe to Buy from Hold and raised its price target to $308, which helped reinforce a bullish view that the company’s AI strategy can support longer-term growth. Is Adobe Inc. (ADBE) the Best Beaten Down Technology Stock to Buy Now?
Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI company focused on image and video enhancement, which could strengthen Adobe’s creative software and AI capabilities. Adobe (ADBE) to Acquire Topaz Labs
Positive Sentiment: Adobe also expanded its GenStudio commerce media offering by integrating LiveRamp purchase data, a move that may improve targeting and workflow automation for advertisers and retailers. Adobe (ADBE) Brings LiveRamp Purchase Data Into GenStudio For Commerce Media
Neutral Sentiment: Some analysts and commentary say Adobe looks cheap after its selloff, but debate remains over whether the valuation is a true opportunity or a value trap. Adobe’s stock is temptingly cheap. Should investors bite?
Negative Sentiment: Bank of America reinstated Adobe with an Underperform rating and a $190 price target, arguing that generative AI is increasing competitive pressure on Adobe’s core creative software business. Adobe reinstated at Underperform by Bank of America as AI pressures growth outlook
Negative Sentiment: Phillip Securities also downgraded Adobe to Neutral, reflecting ongoing concern that AI competition could weigh on future growth. Phillip Securities Downgrades Adobe (ADBE) to Neutral, Here’s What You Should Know

Analysts Set New Price Targets

Several equities analysts recently issued reports on ADBE shares. Evercore set a $225.00 price target on shares of Adobe and gave the company an “in-line” rating in a research report on Friday, June 12th. HSBC raised Adobe from a “hold” rating to a “buy” rating and upped their price target for the stock from $282.00 to $308.00 in a research note on Thursday, July 2nd. Freedom Capital lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Summit Redstone set a $350.00 target price on shares of Adobe in a report on Friday, April 17th. Finally, KeyCorp reduced their target price on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research report on Friday, June 12th. Six analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $275.00.

Read Our Latest Research Report on ADBE

Adobe Stock Performance

Adobe stock opened at $220.94 on Thursday. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $384.75. 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 company has a market capitalization of $87.82 billion, a P/E ratio of 12.64, a PEG ratio of 0.72 and a beta of 1.43. The stock’s 50 day moving average is $231.65 and its 200 day moving average is $261.73.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the previous year, the business earned $5.06 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, equities research analysts predict that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe announced that its board has approved a share buyback program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Adobe Profile

(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.