Kestra Advisory Services LLC Has $8.22 Million Stake in Adobe Inc. $ADBE

Kestra Advisory Services LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,825 shares of the software company’s stock after selling 3,579 shares during the period. Kestra Advisory Services LLC’s holdings in Adobe were worth $8,222,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Western Pacific Wealth Management LP acquired a new stake in shares of Adobe in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC bought a new position in Adobe in the third quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Adobe in the third quarter worth about $27,000. Beacon Financial Strategies CORP bought a new stake in Adobe during the 4th quarter worth about $28,000. Finally, Marquette Asset Management LLC raised its holdings in Adobe by 72.3% during the 4th 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 last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $308.00 in a research report on Thursday, July 2nd. Citizens Jmp reiterated a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. BMO Capital Markets reduced their price target on Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, June 12th. The Goldman Sachs Group dropped 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, William Blair lowered Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 26th. Six investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $275.00.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. 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 in the last three months. Insiders own 0.20% of the company’s stock.

Adobe Trading Up 3.1%

Shares of NASDAQ ADBE opened at $230.61 on Tuesday. The company’s fifty day moving average is $230.53 and its 200-day moving average is $258.99. The stock has a market cap of $91.67 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.75 and a beta of 1.43. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

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, beating the consensus estimate of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Equities research analysts predict that Adobe Inc. will post 19.8 EPS for the current year.

Adobe announced that its Board of Directors has approved a share repurchase program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.