Parallel Advisors LLC Sells 5,149 Shares of Adobe Inc. $ADBE

Parallel Advisors LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,862 shares of the software company’s stock after selling 5,149 shares during the quarter. Parallel Advisors LLC’s holdings in Adobe were worth $5,800,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. First Nebraska Trust Co bought a new stake in shares of Adobe in the first quarter valued at approximately $2,142,000. Financial Solutions Advisory Group Inc. acquired a new position in Adobe during the 1st quarter valued at $1,035,000. Allen Capital Group LLC boosted its holdings in Adobe by 18.3% in the 1st quarter. Allen Capital Group LLC now owns 8,478 shares of the software company’s stock valued at $2,061,000 after purchasing an additional 1,309 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Adobe in the 1st quarter worth $6,932,000. Finally, Wellington Grp LLC increased its holdings in shares of Adobe by 285.3% during the 1st quarter. Wellington Grp LLC now owns 6,227 shares of the software company’s stock worth $1,514,000 after purchasing an additional 4,611 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Mizuho reduced their target price on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Wells Fargo & Company lowered their price target on Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Bank of America reiterated an “underperform” rating and issued a $190.00 price objective on shares of Adobe in a research report on Tuesday, July 7th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and an average price target of $271.30.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the sale, the chief accounting officer owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Ricks acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.20% of the stock is owned by corporate insiders.

Adobe Stock Performance

Adobe stock opened at $259.32 on Thursday. The stock has a 50-day simple moving average of $227.59 and a 200 day simple moving average of $247.22. The stock has a market capitalization of $103.08 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.87 and a beta of 1.40. 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 Inc. has a 12-month low of $190.12 and a 12-month high of $370.86.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The firm had revenue of $6.62 billion for 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 company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, research analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 21st that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 24.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Adobe Company 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.