Resona Asset Management Co. Ltd. Trims Holdings in Adobe Inc. $ADBE

Resona Asset Management Co. Ltd. lowered its position in Adobe Inc. (NASDAQ:ADBE) by 50.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,502 shares of the software company’s stock after selling 152,356 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Adobe were worth $36,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Western Pacific Wealth Management LP purchased a new position in shares of Adobe during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Adobe in the third quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Adobe during the 3rd quarter worth about $27,000. Beacon Financial Strategies CORP acquired a new stake in Adobe during the 4th quarter worth about $28,000. Finally, Marquette Asset Management LLC raised its stake in shares of Adobe by 72.3% during the 4th quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy from Hold and raised its price target to $308, which helped reinforce a bullish view that the company’s AI strategy can support longer-term growth. Is Adobe Inc. (ADBE) the Best Beaten Down Technology Stock to Buy Now?
• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI company focused on image and video enhancement, which could strengthen Adobe’s creative software and AI capabilities. Adobe (ADBE) to Acquire Topaz Labs
• Positive Sentiment: Adobe also expanded its GenStudio commerce media offering by integrating LiveRamp purchase data, a move that may improve targeting and workflow automation for advertisers and retailers. Adobe (ADBE) Brings LiveRamp Purchase Data Into GenStudio For Commerce Media
• Neutral Sentiment: Some analysts and commentary say Adobe looks cheap after its selloff, but debate remains over whether the valuation is a true opportunity or a value trap. Adobe’s stock is temptingly cheap. Should investors bite?
• Negative Sentiment: Bank of America reinstated Adobe with an Underperform rating and a $190 price target, arguing that generative AI is increasing competitive pressure on Adobe’s core creative software business. Adobe reinstated at Underperform by Bank of America as AI pressures growth outlook
• Negative Sentiment: Phillip Securities also downgraded Adobe to Neutral, reflecting ongoing concern that AI competition could weigh on future growth. Phillip Securities Downgrades Adobe (ADBE) to Neutral, Here’s What You Should Know

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Robert W. Baird decreased their price objective on Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Citizens Jmp reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Adobe in a research report on Friday, March 13th. BTIG Research assumed coverage on Adobe in a report on Monday, April 13th. They issued a “neutral” rating for the company. Finally, BMO Capital Markets lowered their price objective on Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research 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 company. According to MarketBeat, Adobe presently has an average rating of “Hold” and an average price target of $275.00.

Adobe Trading Down 0.3%

Shares of Adobe stock opened at $220.94 on Thursday. The firm has a 50-day simple moving average of $231.65 and a two-hundred day simple moving average of $261.73. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $384.75. The company has a market cap of $87.82 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.72 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the firm earned $5.06 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. 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 analysts predict that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.