John G Ullman & Associates Inc. Cuts Stake in Adobe Inc. $ADBE

John G Ullman & Associates Inc. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 72.6% in the 1st quarter, Holdings Channel reports. The firm owned 3,250 shares of the software company’s stock after selling 8,595 shares during the period. John G Ullman & Associates Inc.’s holdings in Adobe were worth $790,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Adobe during the 4th quarter worth approximately $2,275,165,000. AQR Capital Management LLC lifted its position in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after acquiring an additional 920,353 shares in the last quarter. Amundi boosted its stake in shares of Adobe by 17.9% in the third 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 during the last quarter. State of Michigan Retirement System boosted its stake in shares of Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock worth $199,526,000 after acquiring an additional 697,600 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in shares of Adobe during the first quarter worth approximately $167,494,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 77,091 shares of company stock worth $18,782,773. Company insiders own 0.20% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Multiple reports highlight Adobe’s attractive valuation, with some investors viewing the selloff as creating a buying opportunity and even raising the possibility that the company could become a takeover target. Is Adobe (ADBE) a Takeover Target? Rumors Are Swirling
• Positive Sentiment: Adobe was compared favorably with Autodesk on revenue trends, with Adobe showing larger scale and consistent quarter-over-quarter growth over the last eight quarters, which supports the case for durable business momentum. Adobe vs. Autodesk: What Revenue Trends Reveal About These Software Stocks
• Positive Sentiment: Several pieces frame Adobe as a potential beneficiary of the market’s reassessment of software stocks, arguing that AI is pressuring recurring-revenue models but that strong companies like Adobe are adapting and may emerge as relative winners. How to Find the Bargains in the Software Stock Wreckage
• Positive Sentiment: Commentary on Adobe’s “compelling valuation” and “generational buying opportunity” suggests investors are increasingly seeing the stock as undervalued despite intensifying competition. Adobe: Compelling Valuation Even Amid Intensifying Competition
• Positive Sentiment: Broader software-sector analysis also points to Adobe as having real competitive moats that AI may not easily replace, reinforcing confidence in the company’s long-term positioning. Alpha Buying: The Real Moats AI Can’t Replace
• Neutral Sentiment: Additional coverage on e-commerce and digital media trends mentions Adobe’s AI-related efforts, including its acquisition of Rephrase.AI, but the article is more about industry innovation than a direct catalyst for the stock. E-Commerce Update – AI Transforming Digital Retail Through Innovation and Connectivity
• Negative Sentiment: One article noted that an open-source browser-based PDF toolkit can replace Adobe Acrobat, highlighting ongoing competitive pressure in one of Adobe’s core product areas. I replaced Adobe Acrobat with a 10x faster, browser-based open-source PDF toolkit

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADBE shares. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. Phillip Securities lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. DA Davidson reduced their target price on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Piper Sandler decreased their price target on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $200.00 price target (down from $350.00) on shares of Adobe in a research report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $275.00.

Adobe Stock Performance

Shares of Adobe stock opened at $237.25 on Friday. The business’s 50 day moving average price is $228.58 and its 200 day moving average price is $256.19. The company has a market cap of $94.31 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe Inc. has a one year low of $190.12 and a one year high of $376.16.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the business earned $5.06 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, research analysts predict that Adobe Inc. will post 19.81 EPS for the current year.

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

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.