Thornburg Investment Management Inc. Invests $20.58 Million in Adobe Inc. $ADBE

Thornburg Investment Management Inc. purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 58,338 shares of the software company’s stock, valued at approximately $20,579,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Adobe by 0.8% in the third quarter. Vanguard Group Inc. now owns 41,369,395 shares of the software company’s stock valued at $14,593,054,000 after acquiring an additional 344,816 shares during the period. Norges Bank acquired a new stake in shares of Adobe during the second quarter worth about $2,029,950,000. Invesco Ltd. lifted its holdings in shares of Adobe by 16.1% during the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock valued at $1,705,043,000 after purchasing an additional 610,215 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Adobe by 17.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,664,151 shares of the software company’s stock valued at $1,417,587,000 after purchasing an additional 548,903 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Adobe by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,922,630 shares of the software company’s stock worth $1,130,707,000 after purchasing an additional 24,333 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the sale, the chief financial officer owned 41,995 shares in the company, valued at $12,382,225.75. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Adobe Stock Up 1.0%

ADBE stock opened at $257.81 on Thursday. The company has a market cap of $105.83 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.00 and a beta of 1.51. Adobe Inc. has a twelve month low of $244.28 and a twelve month high of $453.26. The business has a 50 day moving average price of $303.45 and a two-hundred day moving average price of $329.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. The company had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer lowered shares of Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 13th. TD Cowen reduced their target price on shares of Adobe from $420.00 to $400.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. Stifel Nicolaus dropped their price target on Adobe from $480.00 to $450.00 and set a “buy” rating on the stock in a research note on Tuesday, December 9th. HSBC set a $302.00 price objective on Adobe in a research report on Friday, February 13th. Finally, Morgan Stanley cut their target price on Adobe from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $392.76.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Zacks and other outlets note Adobe’s expanding AI integrations (Firefly, Acrobat AI) and partner ecosystem, which analysts say could underpin a recovery if execution accelerates. AI Efforts & Rich Partner Base: Adobe Stock Set for Recovery?
• Positive Sentiment: Some brokers and analysts still call Adobe a value opportunity after the selloff, arguing the late-stage tech pullback creates a buying window for well-positioned software franchises. The Late-Stage Bull Market Is a Buying Opportunity for Tech (ADBE)
• Neutral Sentiment: Piper Sandler remains constructive in commentary despite lowering its rating/target — that keeps institutional support but signals caution on mid-term growth risks. Piper Sandler Remains Positive on Adobe Inc. (ADBE) Despite Concerns
• Neutral Sentiment: Options-focused pieces point to elevated implied volatility and bullish/neutral option strategies (e.g., short iron condor), indicating traders expect bigger moves but mixed directional conviction. 1 Picture-Perfect Short Iron Condor Trade Returning 35% on Adobe Stock Now
• Neutral Sentiment: Short-interest notices in the feed show anomalous zero/NaN data and don’t provide a clear signal on actual short positioning. (Treat reported figures as unreliable until clarified.)
• Negative Sentiment: Coverage raising the “how low can it go?” question highlights the risk narrative: a ~42% one‑year decline, heavy YTD underperformance, and investor concern that generative-AI incumbents may take share or compress pricing. How Low Can Adobe Stock Go?
• Negative Sentiment: Analysis pieces warn Adobe may be a “deep value or performance trap,” citing seat-compression, competition from Microsoft/Alphabet, and lowered analyst targets — factors that justify continued caution among investors. Adobe (ADBE): Deep Value Or Performance Trap In 2026? | 2-Minute Analysis
• Neutral Sentiment: Recent valuation notes (TipRanks) point out Adobe trading near ~15x earnings — making it cheaper by historical standards but raising the debate: AI casualty vs. generational opportunity. That valuation compression is a key driver of both buy and sell arguments. Adobe Stock Is Trading at 15x Earnings. Is This an AI Casualty or Generational Opportunity?

About Adobe

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.