Adobe Inc. $ADBE Shares Sold by Peloton Wealth Strategists

Peloton Wealth Strategists reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 61.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,205 shares of the software company’s stock after selling 3,465 shares during the period. Peloton Wealth Strategists’ holdings in Adobe were worth $772,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Adobe during the fourth quarter worth about $2,275,165,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock valued at $1,981,448,000 after buying an additional 1,952,994 shares in the last quarter. Dodge & Cox raised its holdings in shares of Adobe by 8,006.6% during the 3rd quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock valued at $562,109,000 after buying an additional 1,573,849 shares during the period. AQR Capital Management LLC raised its holdings in shares of Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after buying an additional 920,353 shares during the period. Finally, Amundi lifted its position in Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after acquiring an additional 742,646 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, which supports Adobe’s positioning as an AI enabler and could strengthen long-term product adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
• Positive Sentiment: Several articles highlighted Adobe as potentially undervalued after its recent selloff, with some analysts and commentators calling it a buy-the-dip or value opportunity following its strong earnings and raised guidance. Should You Buy, Sell or Hold Adobe Stock Post Q2 Earnings?
• Neutral Sentiment: Market commentary from Barchart and other outlets suggests traders are debating whether the post-earnings weakness is overdone, with options data and technicals still pointing to elevated volatility. Following Adobe Earnings, Here’s What Barchart Data Says Is Next for ADBE Stock
• Neutral Sentiment: TD Cowen cut its price target on Adobe from $310 to $285, citing mixed signals including slower spending trends and weaker AI credit demand, but kept a Hold rating. Adobe (ADBE) Price Target Cut as TD Cowen Flags Slowing Spend and Weak AI Credit Demand
• Negative Sentiment: Adobe’s CFO departure is weighing on sentiment, with investors seeing the leadership change as a risk at a time when the company is already facing valuation and growth concerns. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.

Insider Activity at Adobe

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Argus restated a “hold” rating on shares of Adobe in a report on Monday, March 16th. DA Davidson dropped their price objective on shares of Adobe from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Robert W. Baird decreased their target price on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Finally, Barclays lowered their price target on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday. Five research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $278.16.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $207.32 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a fifty-two week low of $196.90 and a fifty-two week high of $399.67. The business has a 50 day moving average price of $243.10 and a two-hundred day moving average price of $276.75. The firm has a market cap of $83.80 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.72 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last announced its earnings results 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. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Sell-side analysts expect that Adobe Inc. will post 19.87 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 21st that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.