Callahan Advisors LLC Sells 6,140 Shares of Adobe Inc. $ADBE

Callahan Advisors LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,529 shares of the software company’s stock after selling 6,140 shares during the quarter. Callahan Advisors LLC’s holdings in Adobe were worth $7,535,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Western Pacific Wealth Management LP bought a new stake in shares of Adobe in the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Adobe in the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Adobe in the third quarter valued at $27,000. Caitlin John LLC bought a new stake in shares of Adobe during the 3rd quarter valued at $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of Adobe during the 4th quarter valued at $28,000. 81.79% of the stock is currently owned by institutional investors.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe was highlighted as a favored name by investor Michael Burry, who confirmed he maintained a position in the stock and was also reported to have added to Adobe alongside other beaten-down names. That can boost sentiment because it signals value investors still see upside in the shares. Adobe Inc. (ADBE): Michael Burry Maintains Position
• Positive Sentiment: Adobe also announced a product-related development, bringing professional creative tools into Google Gemini and teasing an upcoming Premiere Android app. Investors may view this as a sign Adobe is expanding its ecosystem and keeping its creative software relevant in AI-driven workflows. Adobe brings professional creative tools straight into Google Gemini; Premiere Android app coming soon
• Positive Sentiment: Some market commentary continued to frame Adobe as a top-ranked growth or software-rebound candidate, which can help support the stock among investors looking for software names with valuation upside. The software rally may still have legs. Buy ServiceNow and Adobe.
• Neutral Sentiment: A court dismissed an amended shareholder lawsuit tied to Adobe’s disclosures around Figma-related competition, but the plaintiff is appealing. That means the legal issue is not fully resolved, keeping governance and litigation risk on investors’ radar. Adobe Lawsuit Appeal Keeps Governance Questions And Value Debate Alive
• Negative Sentiment: DBS Bank downgraded Adobe from “moderate buy” to “hold,” which can weigh on the stock by signaling less near-term upside from current levels. Adobe downgraded by Dbs Bank

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. This represents a 17.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value 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. The trade was a 17.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

Adobe Price Performance

Adobe stock opened at $253.37 on Thursday. The business has a 50-day simple moving average of $246.25 and a 200 day simple moving average of $288.44. Adobe Inc. has a 52 week low of $224.13 and a 52 week high of $422.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market cap of $102.41 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.99 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the business earned $5.08 EPS. The company’s revenue for the quarter 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. On average, research analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its board has initiated a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to repurchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADBE. BTIG Research began coverage on Adobe in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Royal Bank Of Canada decreased their price objective on Adobe from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Weiss Ratings lowered Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Adobe in a research note on Friday, March 13th. Finally, Wells Fargo & Company reduced their target price on Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $338.15.

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.