Swedbank AB cut its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 8.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 736,879 shares of the software company’s stock after selling 72,362 shares during the period. Swedbank AB’s holdings in Adobe were worth $179,121,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in ADBE. Greatmark Investment Partners Inc. acquired a new position in Adobe during the 1st quarter worth approximately $490,000. Dumont & Blake Investment Advisors LLC grew its position in Adobe by 65.8% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 3,166 shares of the software company’s stock valued at $770,000 after acquiring an additional 1,256 shares in the last quarter. Canvas Wealth Advisors LLC acquired a new stake in Adobe in the first quarter valued at approximately $210,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Adobe by 1.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,074 shares of the software company’s stock valued at $1,484,000 after purchasing an additional 66 shares during the period. Finally, Whittier Trust Co. raised its stake in shares of Adobe by 22.7% during the first quarter. Whittier Trust Co. now owns 5,895 shares of the software company’s stock valued at $1,440,000 after purchasing an additional 1,092 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Bank of America reissued an “underperform” rating and issued a $190.00 price target on shares of Adobe in a report on Tuesday. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday. Argus reissued a “hold” rating on shares of Adobe in a research report on Monday, March 16th. Jefferies Financial Group lowered their price objective on Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a report on Friday, June 12th. Finally, Royal Bank Of Canada cut their price objective on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $275.00.
Insider Transactions at Adobe
In other Adobe news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 359,538 shares in the company, valued at approximately $87,561,884.52. This represents a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by corporate insiders.
Adobe Price Performance
Shares of Adobe stock traded up $11.00 during trading on Tuesday, hitting $229.07. The stock had a trading volume of 2,921,698 shares, compared to its average volume of 6,068,477. The business has a fifty day moving average of $232.91 and a two-hundred day moving average of $264.53. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $386.60. The firm has a market cap of $91.06 billion, a P/E ratio of 13.10, a PEG ratio of 0.77 and a beta of 1.43. 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 – Get Free Report) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the firm earned $5.06 earnings per share. Adobe’s revenue for the quarter was up 12.7% compared to the same quarter last year. 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 expect that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.
Adobe announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
More Adobe News
Here are the key news stories impacting Adobe this week:
- Negative Sentiment: Bank of America downgraded Adobe to Underperform and cut its price target to $190, citing concerns that AI-powered competitors could slow Adobe’s growth. Bank of America Downgrades Adobe (ADBE) Stock with $190 Price Target Amid AI Disruption
- Negative Sentiment: BofA also reaffirmed the Underperform view, reinforcing investor worries that Adobe may be vulnerable to AI-driven competition and slower monetization of its own AI features. Adobe Stock (ADBE) Gets a Sell Rating From BofA. Here’s Why
- Negative Sentiment: News that a maximum-severity Adobe ColdFusion flaw is now being actively exploited adds a cybersecurity overhang, which could increase reputational and remediation concerns. Max severity Adobe ColdFusion flaw now exploited in attacks
- Neutral Sentiment: Zacks highlighted Adobe as a strong growth stock, which offers a mildly supportive counterpoint, but the item appears more style-score driven than a new fundamental catalyst. Here’s Why Adobe Systems (ADBE) is a Strong Growth Stock
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.
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