Parallel Advisors LLC Has $5.80 Million Stake in Adobe Inc. $ADBE

Parallel Advisors LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 23,862 shares of the software company’s stock after selling 5,149 shares during the quarter. Parallel Advisors LLC’s holdings in Adobe were worth $5,800,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ADBE. Norges Bank bought a new stake in shares of Adobe during the 4th quarter valued at $2,275,165,000. AQR Capital Management LLC grew its stake in shares of Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after purchasing an additional 920,353 shares during the period. Amundi increased its holdings in Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after purchasing an additional 742,646 shares during the last quarter. State of Michigan Retirement System lifted its stake in Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after buying an additional 697,600 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in Adobe in the first quarter valued at about $167,494,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 0.7%

ADBE opened at $259.32 on Thursday. The stock has a market capitalization of $103.08 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.87 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $370.86. The firm’s fifty day simple moving average is $227.59 and its 200 day simple moving average is $247.22.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the prior year, the company earned $5.06 EPS. The company’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. As a group, research analysts anticipate that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe declared that its board has authorized a share repurchase plan on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the sale, the chief accounting officer owned 3,824 shares of the company’s stock, valued at approximately $1,010,797.92. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Ricks bought 10,000 shares of the business’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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADBE shares. Sanford C. Bernstein decreased their target price on Adobe from $447.00 to $379.00 and set an “outperform” rating for the company in a research report on Friday, June 12th. Piper Sandler cut their price target on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Bank of America reissued an “underperform” rating and set a $190.00 price objective on shares of Adobe in a research note on Tuesday, July 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $271.30.

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.