Adobe Inc. $ADBE Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,178 shares of the software company’s stock after selling 9,925 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Adobe were worth $24,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ADBE. Willis Investment Counsel increased its holdings in shares of Adobe by 138.9% in the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after acquiring an additional 23,671 shares during the period. Nicholas Company Inc. boosted its stake in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after purchasing an additional 12,400 shares during the period. Teacher Retirement System of Texas grew its position in Adobe by 13.4% in the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after purchasing an additional 25,435 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Adobe by 13.2% in the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after purchasing an additional 6,426 shares during the period. Finally, True North Advisors LLC increased its stake in shares of Adobe by 301.1% in the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after purchasing an additional 4,874 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the acquisition, 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 position. The SEC filing for this purchase provides additional information. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. BMO Capital Markets reduced their price objective on Adobe from $285.00 to $230.00 and set a “market perform” rating for the company in a research report on Friday, June 12th. Wolfe Research cut Adobe from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 12th. Freedom Capital downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. KeyCorp reduced their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, June 12th. Finally, UBS Group cut Adobe from a “buy” rating to an “equal weight” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $271.30.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe (NASDAQ:ADBE) Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

Adobe Price Performance

NASDAQ ADBE opened at $225.11 on Friday. Adobe Inc. has a 12 month low of $190.12 and a 12 month 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. The firm has a market capitalization of $89.48 billion, a PE ratio of 12.88, a P/E/G ratio of 0.71 and a beta of 1.43. The company’s 50 day simple moving average is $226.78 and its 200 day simple moving average is $251.84.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion for 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%.The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, equities research analysts forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe announced that its board has approved a stock repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are 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.