Peak Asset Management LLC Purchases New Holdings in Adobe Inc. $ADBE

Peak Asset Management LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,798 shares of the software company’s stock, valued at approximately $2,829,000.

A number of other institutional investors have also recently modified their holdings of ADBE. BlackRock Inc. acquired a new stake in shares of Adobe during the 2nd quarter worth approximately $8,437,821,000. State Street Corp boosted its holdings in shares of Adobe by 1.7% in the 3rd quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock valued at $7,277,941,000 after purchasing an additional 352,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Adobe by 3.7% during 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. Arrowstreet Capital Limited Partnership raised its holdings in shares of Adobe by 9.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company’s stock worth $1,651,066,000 after buying an additional 563,772 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Adobe during the 4th quarter worth $2,275,165,000. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on ADBE. Weiss Ratings downgraded Adobe from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Dbs Bank cut shares of Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. KeyCorp decreased their target price on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research note on Friday, June 12th. Finally, Robert W. Baird cut their price objective on Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $270.96.

Insiders Place Their Bets

In other news, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost 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 in the company, valued at $3,434,074.05. This represents a 130.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jillian Forusz sold 416 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares in the company, valued at approximately $1,010,797.92. The trade was a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.20% of the company’s stock.

Adobe Stock Up 0.4%

Shares of ADBE opened at $276.27 on Tuesday. The stock’s 50-day moving average price is $234.01 and its two-hundred day moving average price is $244.68. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $370.86. The company has a market capitalization of $109.82 billion, a PE ratio of 15.80, a PEG ratio of 0.93 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last 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. On average, analysts anticipate that Adobe Inc. will post 19.8 EPS for the current year.

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.