Militia Capital Management LLC Takes $3.58 Million Position in Adobe Inc. $ADBE

Militia Capital Management LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,720 shares of the software company’s stock, valued at approximately $3,578,000. Adobe makes up about 0.8% of Militia Capital Management LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. First Citizens Bank & Trust Co. boosted its position in shares of Adobe by 11.0% during the first quarter. First Citizens Bank & Trust Co. now owns 2,634 shares of the software company’s stock valued at $640,000 after buying an additional 261 shares during the last quarter. First Trust Advisors LP raised its position in Adobe by 34.0% in the 1st quarter. First Trust Advisors LP now owns 763,712 shares of the software company’s stock worth $185,643,000 after buying an additional 193,908 shares during the last quarter. Westpac Banking Corp lifted its stake in Adobe by 16.0% during the 1st quarter. Westpac Banking Corp now owns 33,386 shares of the software company’s stock valued at $8,115,000 after acquiring an additional 4,597 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in Adobe during the 1st quarter valued at about $5,633,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in shares of Adobe during the 1st quarter valued at about $537,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 359,538 shares of the company’s stock, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Ricks bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the transaction, the director directly owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.20% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $218.36 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $86.80 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The firm’s 50 day moving average price is $227.72 and its 200-day moving average price is $252.88. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the business posted $5.06 earnings per share. The firm’s quarterly revenue 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. Equities research analysts expect that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its board has approved a stock repurchase program on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADBE shares. Dbs Bank lowered shares of Adobe from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, May 19th. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and increased their price objective for the company from $282.00 to $308.00 in a research report on Thursday, July 2nd. Summit Redstone set a $350.00 target price on shares of Adobe in a research report on Friday, April 17th. Jefferies Financial Group decreased their target price on shares of Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Finally, Wells Fargo & Company lowered their price target on Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $271.30.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: CLSA initiated coverage on Adobe with a “moderate buy” rating and a $300 price target, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: One article highlighted Adobe’s growth profile and argued the stock may still offer value despite the selloff, suggesting some investors see the pullback as overdone. Zacks
• Neutral Sentiment: Adobe is continuing to add AI features, including multiple AI tools in its experimental camera app, which shows ongoing product innovation but is not yet a clear near-term revenue catalyst. MSN
• Neutral Sentiment: The company’s chief people officer sold a small number of shares for tax withholding, a routine insider transaction that does not by itself signal a major change in outlook. The Motley Fool
• Negative Sentiment: Morgan Stanley downgraded Adobe to underweight and cut its price target to $240 from $365, citing concerns about free-tier offerings pressuring subscriptions, leadership changes, and AI monetization risks. Yahoo Finance
• Negative Sentiment: Another analyst note said Adobe’s roughly 40% decline from its 52-week high reflects AI monetization doubts, slower near-term ARR growth, and uncertainty around leadership strategy. Zacks
• Negative Sentiment: Broader commentary this week also tied Adobe’s weakness to AI-related competitive pressure across software stocks, keeping sentiment cautious. Financial Post

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.