OLD National Bancorp IN Buys 7,669 Shares of Adobe Inc. $ADBE

OLD National Bancorp IN lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 17.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,623 shares of the software company’s stock after buying an additional 7,669 shares during the period. OLD National Bancorp IN’s holdings in Adobe were worth $18,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. grew its holdings in shares of Adobe by 2.9% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after purchasing an additional 25 shares in the last quarter. Rise Advisors LLC raised its stake in shares of Adobe by 7.0% in the first quarter. Rise Advisors LLC now owns 410 shares of the software company’s stock valued at $157,000 after purchasing an additional 27 shares in the last quarter. FSM Wealth Advisors LLC lifted its position in Adobe by 1.1% in the second quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after purchasing an additional 30 shares during the period. Intellus Advisors LLC boosted its stake in Adobe by 1.6% during the second quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after buying an additional 30 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC increased its holdings in Adobe by 2.2% in the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 1,442 shares of the software company’s stock valued at $558,000 after buying an additional 31 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ADBE shares. Wells Fargo & Company reduced their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. Citigroup lifted their price objective on Adobe from $366.00 to $387.00 and gave the company a “neutral” rating in a report on Wednesday, December 17th. Wolfe Research dropped their target price on Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Finally, Jefferies Financial Group cut their target price on Adobe from $590.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $417.93.

Adobe Stock Performance

NASDAQ:ADBE opened at $357.53 on Tuesday. The stock has a market capitalization of $149.66 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.54. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 1 year low of $311.58 and a 1 year high of $465.70. The firm has a 50 day moving average of $337.10 and a 200-day moving average of $354.63.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.Adobe’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 149 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the completion of the sale, the chief accounting officer owned 3,426 shares in the company, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.