Thornburg Investment Management Inc. Makes New $20.58 Million Investment in Adobe Inc. $ADBE

Thornburg Investment Management Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,338 shares of the software company’s stock, valued at approximately $20,579,000.

A number of other hedge funds also recently made changes to their positions in the business. Riverbend Wealth Management LLC increased its position in shares of Adobe by 1.8% during the 3rd quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company’s stock worth $588,000 after purchasing an additional 29 shares in the last quarter. Intellus Advisors LLC grew its stake in Adobe by 1.6% during the second quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after buying an additional 30 shares during the last quarter. Beacon Financial Advisory LLC increased its holdings in shares of Adobe by 5.5% during the third quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock worth $204,000 after buying an additional 30 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Adobe by 20.8% during the third quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock worth $61,000 after buying an additional 30 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in shares of Adobe by 44.9% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock valued at $39,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Zacks and other outlets note Adobe’s expanding AI integrations (Firefly, Acrobat AI) and partner ecosystem, which analysts say could underpin a recovery if execution accelerates. AI Efforts & Rich Partner Base: Adobe Stock Set for Recovery?
• Positive Sentiment: Some brokers and analysts still call Adobe a value opportunity after the selloff, arguing the late-stage tech pullback creates a buying window for well-positioned software franchises. The Late-Stage Bull Market Is a Buying Opportunity for Tech (ADBE)
• Neutral Sentiment: Piper Sandler remains constructive in commentary despite lowering its rating/target — that keeps institutional support but signals caution on mid-term growth risks. Piper Sandler Remains Positive on Adobe Inc. (ADBE) Despite Concerns
• Neutral Sentiment: Options-focused pieces point to elevated implied volatility and bullish/neutral option strategies (e.g., short iron condor), indicating traders expect bigger moves but mixed directional conviction. 1 Picture-Perfect Short Iron Condor Trade Returning 35% on Adobe Stock Now
• Neutral Sentiment: Short-interest notices in the feed show anomalous zero/NaN data and don’t provide a clear signal on actual short positioning. (Treat reported figures as unreliable until clarified.)
• Negative Sentiment: Coverage raising the “how low can it go?” question highlights the risk narrative: a ~42% one‑year decline, heavy YTD underperformance, and investor concern that generative-AI incumbents may take share or compress pricing. How Low Can Adobe Stock Go?
• Negative Sentiment: Analysis pieces warn Adobe may be a “deep value or performance trap,” citing seat-compression, competition from Microsoft/Alphabet, and lowered analyst targets — factors that justify continued caution among investors. Adobe (ADBE): Deep Value Or Performance Trap In 2026? | 2-Minute Analysis
• Neutral Sentiment: Recent valuation notes (TipRanks) point out Adobe trading near ~15x earnings — making it cheaper by historical standards but raising the debate: AI casualty vs. generational opportunity. That valuation compression is a key driver of both buy and sell arguments. Adobe Stock Is Trading at 15x Earnings. Is This an AI Casualty or Generational Opportunity?

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target on Adobe from $400.00 to $290.00 and set a “hold” rating for the company in a report on Monday. HSBC set a $302.00 target price on Adobe in a research note on Friday, February 13th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Wolfe Research lowered their price objective on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, December 11th. Finally, Stifel Nicolaus dropped their target price on shares of Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $392.76.

Adobe Trading Up 1.0%

ADBE opened at $257.81 on Thursday. The firm has a 50 day simple moving average of $303.45 and a 200 day simple moving average of $329.92. Adobe Inc. has a fifty-two week low of $244.28 and a fifty-two week high of $453.26. The company has a market cap of $105.83 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.00.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. The firm had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.