Adobe Inc. $ADBE Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 9.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,178 shares of the software company’s stock after selling 9,925 shares during the period. PNC Financial Services Group Inc.’s holdings in Adobe were worth $24,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oslo Pensjonsforsikring AS purchased a new position in shares of Adobe in the first quarter worth approximately $537,000. DUTCH ASSET Corp acquired a new stake in shares of Adobe during the first quarter valued at approximately $731,000. Johnson Financial Group Inc. lifted its position in shares of Adobe by 9.0% in the 1st quarter. Johnson Financial Group Inc. now owns 14,282 shares of the software company’s stock valued at $3,472,000 after acquiring an additional 1,175 shares in the last quarter. Commonwealth Financial Services LLC lifted its position in shares of Adobe by 19.7% in the 1st quarter. Commonwealth Financial Services LLC now owns 967 shares of the software company’s stock valued at $235,000 after acquiring an additional 159 shares in the last quarter. Finally, Basepoint Wealth LLC boosted its stake in Adobe by 6,610.0% in the 1st quarter. Basepoint Wealth LLC now owns 2,013 shares of the software company’s stock worth $489,000 after purchasing an additional 1,983 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ADBE shares. Royal Bank Of Canada lowered their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. BMO Capital Markets reduced their target price on Adobe from $285.00 to $230.00 and set a “market perform” rating for the company in a report on Friday, June 12th. JPMorgan Chase & Co. lowered their price target on Adobe from $420.00 to $340.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. KeyCorp lowered their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a report on Friday, June 12th. Finally, Bank of America reissued an “underperform” rating and set a $190.00 price target on shares of Adobe in a research report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $271.30.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe (NASDAQ:ADBE) Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

Adobe Stock Up 6.1%

ADBE stock opened at $225.11 on Friday. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $376.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a market cap of $89.48 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.71 and a beta of 1.43. The company has a 50 day moving average of $226.78 and a two-hundred day moving average of $251.84.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the previous year, the company posted $5.06 EPS. Adobe’s 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, equities analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe declared that its board has approved a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. This represents a 17.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.20% of the company’s stock.

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.