Quartz Partners LLC Grows Holdings in Adobe Inc. $ADBE

Quartz Partners LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 29.5% in the 1st quarter, Holdings Channel reports. The firm owned 15,120 shares of the software company’s stock after purchasing an additional 3,441 shares during the quarter. Adobe accounts for 1.4% of Quartz Partners LLC’s holdings, making the stock its 28th biggest holding. Quartz Partners LLC’s holdings in Adobe were worth $3,675,000 at the end of the most recent reporting period.

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

Adobe Price Performance

Shares of ADBE stock opened at $235.31 on Friday. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $376.16. The stock’s 50-day moving average is $228.89 and its 200 day moving average is $256.32. The company has a market cap of $93.54 billion, a P/E ratio of 13.46, a PEG ratio of 0.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75.

Adobe (NASDAQ:ADBE) last announced its 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 firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company 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 predict that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADBE. Piper Sandler lowered their price target on Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Mizuho decreased their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adobe in a research note on Wednesday, June 3rd. 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. Six investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Adobe has an average rating of “Hold” and a consensus price target of $275.00.

Insider Activity

In other news, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $194.51 per share, with a total value 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 approximately $3,434,074.05. The trade was a 130.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the sale, the chief financial officer owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Several recent commentary pieces argue Adobe is a compelling buying opportunity after its pullback, with bullish takes saying fear around “SaaSpocalypse” is fading and that the company’s long-standing software moat still supports the stock. Adobe: Generational Buying Opportunity As SaaSpocalypse Fear Fades
• Positive Sentiment: Adobe is also being highlighted in broader AI and digital commerce discussions, with its generative AI initiatives and prior Rephrase.AI acquisition cited as supporting future growth in content creation and marketing tools. E-Commerce Update – AI Transforming Digital Retail Through Innovation and Connectivity
• Positive Sentiment: Momentum-focused coverage from Zacks described Adobe as a top-ranked momentum stock, reinforcing the view that the shares could continue to attract buyers. Adobe Systems (ADBE) is a Top-Ranked Momentum Stock: Should You Buy?
• Neutral Sentiment: Some articles discuss Adobe within broader software valuation and AI-moat themes, but they are more industry commentary than direct catalysts for Adobe’s fundamentals. Alpha Buying: The Real Moats AI Can’t Replace
• Negative Sentiment: One piece suggests users can replace Adobe Acrobat with a faster open-source PDF toolkit, which may add to investor concerns about competition and pressure on Adobe’s document workflow business. I replaced Adobe Acrobat with a 10x faster, browser-based open-source PDF toolkit

About Adobe

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.