Bank of Nova Scotia Buys 149,031 Shares of Adobe Inc. $ADBE

Bank of Nova Scotia lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 30.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 632,703 shares of the software company’s stock after acquiring an additional 149,031 shares during the quarter. Bank of Nova Scotia owned approximately 0.15% of Adobe worth $223,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CX Institutional grew its holdings in Adobe by 72.9% during the 3rd quarter. CX Institutional now owns 27,922 shares of the software company’s stock worth $9,849,000 after acquiring an additional 11,769 shares in the last quarter. Wright Investors Service Inc. increased its position in Adobe by 114.4% during the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock valued at $3,499,000 after purchasing an additional 5,293 shares during the period. Federated Hermes Inc. raised its holdings in shares of Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock valued at $316,913,000 after purchasing an additional 583,275 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Adobe by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company’s stock worth $38,309,000 after purchasing an additional 32,448 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Adobe by 112.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 7.6%

NASDAQ:ADBE opened at $249.32 on Friday. The stock has a market capitalization of $102.35 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.98 and a beta of 1.53. Adobe Inc. has a 52 week low of $244.28 and a 52 week high of $422.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $283.88 and a 200 day moving average of $323.00.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.87 by $0.19. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.23%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ADBE shares. TD Cowen cut their price objective on shares of Adobe from $400.00 to $325.00 and set a “hold” rating on the stock in a report on Tuesday, March 10th. The Goldman Sachs Group set a $220.00 target price on Adobe and gave the stock a “sell” rating in a report on Friday. Wolfe Research dropped their target price on Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target on Adobe from $520.00 to $420.00 and set an “overweight” rating on the stock in a report on Friday. Finally, DA Davidson set a $300.00 price target on Adobe in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $347.85.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 1,646 shares of the business’s stock in a transaction on 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 directly owned 41,995 shares in the company, valued at $12,382,225.75. The trade was a 3.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Adobe 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.