Adobe Inc. $ADBE Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its position in Adobe Inc. (NASDAQ:ADBE) by 50.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 148,502 shares of the software company’s stock after selling 152,356 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Adobe were worth $36,049,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Willis Investment Counsel boosted its holdings in shares of Adobe by 138.9% during the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after purchasing an additional 23,671 shares during the last quarter. Nicholas Company Inc. increased its holdings in shares of Adobe by 7.6% in the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after purchasing an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Adobe by 13.4% in the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after purchasing an additional 25,435 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Adobe by 13.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after buying an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC lifted its position in Adobe by 301.1% during the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock worth $2,273,000 after buying an additional 4,874 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the sale, the chief executive officer directly owned 359,538 shares in the company, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jillian Forusz sold 755 shares of the company’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 transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Adobe Trading Down 0.3%

Shares of Adobe stock opened at $220.94 on Thursday. The stock has a 50 day moving average of $231.65 and a 200 day moving average of $261.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $87.82 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.72 and a beta of 1.43. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $384.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating 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 company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the business earned $5.06 earnings per share. The company’s revenue for the quarter 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 predict that Adobe Inc. will post 19.8 earnings per share for the current year.

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

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy from Hold and raised its price target to $308, which helped reinforce a bullish view that the company’s AI strategy can support longer-term growth. Is Adobe Inc. (ADBE) the Best Beaten Down Technology Stock to Buy Now?
• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI company focused on image and video enhancement, which could strengthen Adobe’s creative software and AI capabilities. Adobe (ADBE) to Acquire Topaz Labs
• Positive Sentiment: Adobe also expanded its GenStudio commerce media offering by integrating LiveRamp purchase data, a move that may improve targeting and workflow automation for advertisers and retailers. Adobe (ADBE) Brings LiveRamp Purchase Data Into GenStudio For Commerce Media
• Neutral Sentiment: Some analysts and commentary say Adobe looks cheap after its selloff, but debate remains over whether the valuation is a true opportunity or a value trap. Adobe’s stock is temptingly cheap. Should investors bite?
• Negative Sentiment: Bank of America reinstated Adobe with an Underperform rating and a $190 price target, arguing that generative AI is increasing competitive pressure on Adobe’s core creative software business. Adobe reinstated at Underperform by Bank of America as AI pressures growth outlook
• Negative Sentiment: Phillip Securities also downgraded Adobe to Neutral, reflecting ongoing concern that AI competition could weigh on future growth. Phillip Securities Downgrades Adobe (ADBE) to Neutral, Here’s What You Should Know

Wall Street Analysts Forecast Growth

ADBE has been the subject of several analyst reports. Summit Redstone set a $350.00 target price on Adobe in a report on Friday, April 17th. Piper Sandler reduced their price target on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. BMO Capital Markets lowered their price target on shares of Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, June 12th. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Finally, Stifel Nicolaus restated 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. Six research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $275.00.

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.