Leelyn Smith LLC Sells 10,770 Shares of Adobe Inc. $ADBE

Leelyn Smith LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 84.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,052 shares of the software company’s stock after selling 10,770 shares during the quarter. Leelyn Smith LLC’s holdings in Adobe were worth $499,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Western Pacific Wealth Management LP bought a new stake in Adobe during the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC bought a new position in Adobe in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new position in Adobe in the 3rd quarter valued at $27,000. Beacon Financial Strategies CORP purchased a new position in shares of Adobe during the 4th quarter valued at $28,000. Finally, Marquette Asset Management LLC increased its holdings in shares of Adobe by 72.3% in the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $219.72 on Friday. The stock’s 50-day moving average is $232.91 and its 200 day moving average is $265.14. The stock has a market cap of $87.34 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.77 and a beta of 1.43. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $386.60. 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 (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the prior year, the firm earned $5.06 earnings per share. Adobe’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. On average, sell-side analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

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

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. This represents a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ADBE shares. The Goldman Sachs Group lowered their price objective on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research report on Friday, June 12th. Stifel Nicolaus restated a “hold” rating and set a $200.00 target price (down from $350.00) on shares of Adobe in a research report on Friday, June 12th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research note on Saturday. BTIG Research began coverage on Adobe in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Adobe in a report on Friday, March 13th. Six analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $278.40.

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.