Janney Montgomery Scott LLC Cuts Stake in Adobe Inc. $ADBE

Janney Montgomery Scott LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 33.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,834 shares of the software company’s stock after selling 18,020 shares during the period. Janney Montgomery Scott LLC’s holdings in Adobe were worth $8,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. Norges Bank purchased a new stake in Adobe in the fourth quarter valued at about $2,275,165,000. Arrowstreet Capital Limited Partnership boosted its holdings in Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after acquiring an additional 1,952,994 shares in the last quarter. Dodge & Cox grew its stake in shares of Adobe by 8,006.6% during the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock worth $562,109,000 after acquiring an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after acquiring an additional 920,353 shares during the last quarter. Finally, Amundi increased its holdings in shares of Adobe by 17.9% during the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after acquiring an additional 742,646 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $219.72 on Friday. 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 company’s fifty day moving average price is $232.91 and its 200-day moving average price is $265.14. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $386.60. The firm has a market capitalization of $87.34 billion, a P/E ratio of 12.57, a PEG ratio of 0.77 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. The company 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 firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior 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 anticipate that Adobe Inc. will post 19.8 EPS for the current year.

Adobe announced that its board has approved a share buyback plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer directly owned 42,833 shares in the company, valued at approximately $10,623,440.66. This trade represents a 3.02% 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 acquired 10,000 shares of the stock in a transaction on Thursday, June 25th. The stock was bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the transaction, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 77,091 shares of company stock valued at $18,782,773 in the last three months. 0.20% of the stock is currently owned by insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADBE. Barclays decreased their price objective on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, June 12th. BMO Capital Markets cut their price target on shares of Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, June 12th. UBS Group set a $365.00 price target on shares of Adobe in a report on Friday, June 12th. Robert W. Baird lowered their price objective on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $278.40.

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.