Novare Capital Management LLC Sells 8,284 Shares of Adobe Inc. $ADBE

Novare Capital Management LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,202 shares of the software company’s stock after selling 8,284 shares during the quarter. Novare Capital Management LLC’s holdings in Adobe were worth $7,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in shares of Adobe in the 3rd quarter valued at about $26,000. Western Pacific Wealth Management LP bought a new position in shares of Adobe in the 4th quarter valued at about $26,000. Caitlin John LLC bought a new position in shares of Adobe in the 3rd quarter valued at about $28,000. Beacon Financial Strategies CORP bought a new position in shares of Adobe in the 4th quarter valued at about $28,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Adobe in the 3rd quarter valued at about $27,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the sale, the chief financial officer owned 42,833 shares of the company’s stock, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by insiders.

Adobe Stock Performance

NASDAQ ADBE opened at $247.60 on Friday. The firm has a 50-day moving average of $247.93 and a 200-day moving average of $290.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $100.08 billion, a PE ratio of 14.42, a P/E/G ratio of 0.92 and a beta of 1.42. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $422.95.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.87 by $0.19. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. Adobe’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.08 EPS. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 19.14 EPS for the current year.

Adobe announced that its Board of Directors has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
• Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe’s Digital Media Opportunity?
• Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
• Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADBE. Piper Sandler decreased their price objective on shares of Adobe from $330.00 to $280.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. The Goldman Sachs Group decreased their price objective on shares of Adobe from $290.00 to $220.00 and set a “sell” rating for the company in a research report on Friday, March 13th. KeyCorp decreased their price objective on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada decreased their price objective on shares of Adobe from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $520.00 to $420.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average target price of $338.15.

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.