Summit Global Investments Has $1.94 Million Stock Holdings in Adobe Inc. $ADBE

Summit Global Investments trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 33.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,979 shares of the software company’s stock after selling 3,934 shares during the quarter. Summit Global Investments’ holdings in Adobe were worth $1,940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Norges Bank bought a new stake in shares of Adobe in the 4th quarter valued at $2,275,165,000. AQR Capital Management LLC lifted its holdings in Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after acquiring an additional 920,353 shares in the last quarter. Amundi lifted its holdings in Adobe by 17.9% during the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after acquiring an additional 742,646 shares in the last quarter. State of Michigan Retirement System grew its stake in Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after acquiring an additional 697,600 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in Adobe in the first quarter valued at about $167,494,000. 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: Adobe is adding new AI-powered features to its experimental Project Indigo camera app, including LLM-based photo critiques and editing suggestions, reinforcing the company’s AI product momentum and showing continued innovation in consumer-facing tools. Adobe camera app’s new feature will critique your photos using AI
• Positive Sentiment: Adobe was highlighted as a strong value stock in a Zacks screen, which may support investor confidence by reinforcing the stock’s valuation appeal after its pullback. Here’s Why Adobe Systems (ADBE) is a Strong Value Stock
• Neutral Sentiment: Recent coverage placing Adobe among top digital media stocks to watch does not point to a new catalyst, but it keeps the name on investors’ radar. Top Digital Media Stocks To Watch Today – July 17th
• Neutral Sentiment: Adobe’s stock was noted as dipping more than the broader market in the latest session, suggesting the decline was modest and may have been driven by general trading weakness rather than company-specific bad news. Why Adobe Systems (ADBE) Dipped More Than Broader Market Today
• Negative Sentiment: Adobe CEO Shantanu Narayen sold 4,112 shares for about $923,000, a move some investors may view as a mild negative signal even though it represented only a small reduction in his overall stake. Here’s What the Adobe CEO’s Sale of Company Shares for Over $900,000 Means for Investors.

Adobe Stock Performance

ADBE opened at $234.74 on Tuesday. The company has a market capitalization of $93.31 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.80 and a beta of 1.43. The business’s 50-day moving average price is $228.35 and its two-hundred day moving average price is $254.68. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $376.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.06 earnings per share. 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 analysts expect that Adobe Inc. will post 19.81 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Ricks purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ADBE. Barclays dropped their price target on Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Friday, June 12th. Evercore set a $225.00 price objective on Adobe and gave the company an “in-line” rating in a research report on Friday, June 12th. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Mizuho dropped their target price on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Finally, Summit Redstone set a $350.00 price target on shares of Adobe in a research note on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of “Hold” and an average price target of $271.30.

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.