Beese Fulmer Investment Management Inc. Sells 22,286 Shares of Adobe Inc. $ADBE

Beese Fulmer Investment Management Inc. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 95.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,133 shares of the software company’s stock after selling 22,286 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Adobe were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Beacon Financial Advisory LLC boosted its holdings in Adobe by 5.5% in the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock worth $204,000 after buying an additional 30 shares during the period. MCF Advisors LLC boosted its holdings in Adobe by 20.8% in the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock worth $61,000 after buying an additional 30 shares during the period. SWAN Capital LLC boosted its holdings in Adobe by 43.1% in the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after buying an additional 31 shares during the period. Logan Capital Management Inc. boosted its holdings in Adobe by 0.3% in the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock worth $3,453,000 after buying an additional 32 shares during the period. Finally, Andina Capital Management LLC boosted its holdings in Adobe by 6.0% in the 3rd quarter. Andina Capital Management LLC now owns 583 shares of the software company’s stock worth $206,000 after buying an additional 33 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 3.2%

Shares of NASDAQ:ADBE opened at $255.64 on Tuesday. The firm has a fifty day moving average price of $247.40 and a two-hundred day moving average price of $289.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. Adobe Inc. has a one year low of $224.13 and a one year high of $422.95. The company has a market cap of $103.33 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.97 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm earned $5.08 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Analysts anticipate that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe announced that its board has authorized a stock buyback plan on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a report on Monday, March 9th. JPMorgan Chase & Co. cut their price objective on shares of Adobe from $520.00 to $420.00 and set an “overweight” rating for the company in a report on Friday, March 13th. Sanford C. Bernstein set a $447.00 price objective on shares of Adobe and gave the stock an “outperform” rating in a report on Friday, March 13th. William Blair downgraded shares of Adobe from an “outperform” rating to a “market perform” rating in a report on Thursday, March 26th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $270.00 price objective (down from $315.00) on shares of Adobe in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $338.15.

Insider Activity

In other news, CFO Daniel Durn sold 1,336 shares of the firm’s 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 sale, the chief financial officer owned 42,833 shares in the company, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

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.