Paragon Capital Management Inc. Acquires New Position in Adobe Inc. $ADBE

Paragon Capital Management Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,830 shares of the software company’s stock, valued at approximately $931,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Adobe by 1.7% in the third quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock valued at $7,277,941,000 after buying an additional 352,448 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Adobe by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company’s stock worth $4,027,170,000 after buying an additional 414,049 shares in the last quarter. Norges Bank acquired a new stake in Adobe in the 4th quarter valued at about $2,275,165,000. Arrowstreet Capital Limited Partnership grew its stake in Adobe by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,228,503 shares of the software company’s stock valued at $2,179,914,000 after acquiring an additional 611,358 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Adobe by 6.2% during the 4th quarter. Invesco Ltd. now owns 5,119,025 shares of the software company’s stock valued at $1,791,607,000 after acquiring an additional 297,337 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction 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 transaction, the chief financial officer owned 42,833 shares of the company’s stock, valued at $10,623,440.66. This represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This trade represents a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced new agentic AI partnerships at Cannes Lions, including agency, technology, and systems integrator deals aimed at making Adobe the “infrastructure layer” for personalized customer experiences. The company also said it is embedding Creative Agent across Firefly and Creative Cloud, which could improve workflow productivity and deepen product usage. Adobe Accelerates Agentic AI Adoption Through New Agency and Technology Partnerships
• Positive Sentiment: Several commentators highlighted Adobe’s valuation as attractive after the selloff, with value investors and analysts pointing to strong buybacks, solid ARR trends, and what they see as an overly pessimistic view of AI disruption. One analyst also reiterated a Buy rating with a high price target, reinforcing the idea that the stock may be undervalued. Paul Chew Reiterates Buy on Adobe
• Neutral Sentiment: Adobe is expanding its free and freemium AI tools and moving further into commerce media, which could broaden adoption and support longer-term growth, but the market is still waiting to see whether this strategy translates into stronger revenue acceleration. Adobe Opens Its AI Tools For Free And Expands Into Commerce Media
• Negative Sentiment: Adobe continues to face skepticism that its AI shift could pressure pricing and growth, and some coverage noted that the company is still searching for a new CEO while its CFO departs. Citi also cut its price target to $228 from $264, keeping a Neutral rating, which may weigh on sentiment. Citi Cuts PT on Adobe Inc. (ADBE)

Adobe Price Performance

NASDAQ:ADBE opened at $194.90 on Tuesday. The firm has a market cap of $77.47 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $239.67 and its two-hundred day moving average is $273.22. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $392.58.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $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. Research analysts expect that Adobe Inc. will post 19.73 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho cut their target price on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Robert W. Baird dropped 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. UBS Group set a $365.00 price objective on Adobe in a research report on Friday, June 12th. Piper Sandler reduced their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $200.00 target price (down from $350.00) on shares of Adobe in a report on Friday, June 12th. Five analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $278.16.

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.