Handelsbanken Fonder AB Sells 27,167 Shares of Adobe Inc. $ADBE

Handelsbanken Fonder AB lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,874 shares of the software company’s stock after selling 27,167 shares during the period. Handelsbanken Fonder AB’s holdings in Adobe were worth $35,648,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Adobe during the 4th quarter valued at about $2,275,165,000. AQR Capital Management LLC raised its stake in Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after buying an additional 920,353 shares in the last quarter. Amundi lifted its holdings in 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 buying an additional 742,646 shares during the period. State of Michigan Retirement System boosted its position in Adobe by 566.1% during the 1st quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after acquiring an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new stake in Adobe during the 1st quarter valued at approximately $167,494,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at approximately $1,010,797.92. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director owned 17,655 shares in the company, valued at $3,434,074.05. The trade was a 130.63% increase in their position. The SEC filing for this purchase provides additional information. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. Evercore set a $225.00 target price on Adobe and gave the stock an “in-line” rating in a research report on Friday, June 12th. KeyCorp dropped their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research report on Friday, June 12th. Citigroup reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. The Goldman Sachs Group decreased their price objective on Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a report on Friday, June 12th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $200.00 price objective (down from $350.00) on shares of Adobe in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $269.81.

Adobe Trading Down 3.4%

NASDAQ ADBE opened at $263.71 on Wednesday. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $370.86. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is $228.09 and its 200-day moving average price is $246.41. The stock has a market cap of $104.82 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.92 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last announced its quarterly 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. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. Adobe’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, equities analysts forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock buyback program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s integration with ChatGPT is being highlighted for its ability to expand users’ creative capabilities through new prompts and workflows, reinforcing the potential for Adobe’s products to benefit from generative-AI adoption. Adobe just supercharged ChatGPT’s creative powers
• Positive Sentiment: The company rolled out AI-powered product discovery tools designed for shopping through large language models. The initiative could create additional opportunities in digital commerce and improve Adobe’s relevance as AI changes how consumers find products. Adobe rolls out AI-powered product discovery for LLM shopping
• Positive Sentiment: Adobe had recently extended its winning streak to seven sessions, indicating improved short-term trading momentum. Its latest reported quarter also showed 12.7% year-over-year revenue growth and earnings above analyst expectations.
• Neutral Sentiment: The reported short-interest data shows zero shares on both the latest and prior measurement dates, with a zero-day days-to-cover ratio. Because the figures imply no change and include an invalid “NaN” percentage, they do not provide a meaningful signal about future trading.
• Negative Sentiment: Analysts remain cautious on Adobe after the stock underperformed the broader market, with skepticism focused on its growth prospects and competitive pressures in software and AI. This uncertainty is likely limiting enthusiasm even as Adobe’s valuation appears more moderate. What Are Wall Street Analysts’ Target Price for Adobe Stock?

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.