Buttonwood Financial Advisors Inc. acquired a new position in Adobe Inc. (NASDAQ:ADBE – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,706 shares of the software company’s stock, valued at approximately $3,397,000. Adobe accounts for about 1.1% of Buttonwood Financial Advisors Inc.’s portfolio, making the stock its 26th largest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in Adobe in the third quarter worth $26,000. Western Pacific Wealth Management LP purchased a new position in Adobe in the fourth quarter worth $26,000. Caitlin John LLC purchased a new position in Adobe in the third quarter worth $28,000. Beacon Financial Strategies CORP purchased a new position in Adobe in the fourth quarter worth $28,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Adobe in the third quarter worth $27,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Adobe Stock Performance
Shares of ADBE opened at $240.83 on Wednesday. The firm has a market cap of $97.34 billion, a PE ratio of 14.03, a PEG ratio of 0.96 and a beta of 1.42. The stock’s fifty day moving average price is $249.61 and its two-hundred day moving average price is $292.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95.
Adobe announced that its board has initiated a share repurchase plan on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Insider Activity at Adobe
In related news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by company insiders.
Analyst Ratings Changes
ADBE has been the topic of several research analyst reports. UBS Group cut their price objective on Adobe from $290.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Royal Bank Of Canada cut their price objective on Adobe from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. DA Davidson set a $300.00 target price on Adobe in a research note on Friday, March 13th. Piper Sandler lowered their target price on Adobe from $330.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. lowered their target price on Adobe from $520.00 to $420.00 and set an “overweight” rating on the stock in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Hold” and an average price target of $338.15.
Read Our Latest Stock Analysis on ADBE
Adobe News Roundup
Here are the key news stories impacting Adobe this week:
- Positive Sentiment: Several articles argue Adobe remains a long-term value opportunity, with analysts still viewing the stock as moderately optimistic and highlighting fundamentals that may support upside if AI fears prove overstated. Adobe Stock: Is Wall Street Bullish or Bearish?
- Positive Sentiment: TipRanks and Seeking Alpha both framed the recent selloff as potentially overdone, saying the business still argues AI is a tailwind rather than a threat, which could help support a rebound if investors regain confidence. The Market Thinks AI Crushed Adobe (ADBE). The Business Says Otherwise Adobe: The Market Refuses To See AI As A Tailwind
- Neutral Sentiment: Adobe was also highlighted as a value stock in Zacks research, reinforcing that some investors still see attractive long-term fundamentals despite the recent weakness. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
- Negative Sentiment: A recent analyst downgrade from Mizuho to Neutral added to bearish sentiment, reflecting concern that near-term upside may be limited after a strong prior run. Burry Is Backing Adobe Inc (ADBE) Despite Analyst Downgrades
- Negative Sentiment: The stock’s decline today also reflects broader market skepticism about Adobe’s AI exposure, with some coverage suggesting investors remain worried that generative AI could disrupt software demand and growth. Adobe Systems (ADBE) Declines More Than Market: Some Information for Investors Why Adobe (ADBE) shares are sliding today
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.
Featured Stories
- Five stocks we like better than Adobe
- Navy Catalyst Ignites Odysight’s Growth Engine
- AST SpaceMobile Plummets on Galactic Q1 Miss: Can Vertical Integration Save the SpaceX Rival?
- Axon Surged After Earnings and Is Still Down Over 50% From Highs
- The Event That Could Redefine Apple’s Summer Rally
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.
