Traders Purchase High Volume of Put Options on Adobe (NASDAQ:ADBE)

Adobe Inc. (NASDAQ:ADBE) saw some unusual options trading on Thursday. Stock investors acquired 188,902 put options on the company. This is an increase of approximately 248% compared to the typical daily volume of 54,325 put options.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADBE shares. The Goldman Sachs Group assumed coverage on shares of Adobe in a research report on Monday, January 12th. They issued a “sell” rating and a $290.00 price objective on the stock. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. UBS Group reduced their price target on Adobe from $375.00 to $340.00 and set a “neutral” rating on the stock in a research report on Monday, January 26th. Jefferies Financial Group cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $500.00 to $400.00 in a research report on Monday, January 5th. Finally, Morgan Stanley reduced their target price on Adobe from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Hold” and a consensus target price of $397.16.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the transaction, the chief financial officer owned 41,995 shares in the company, valued at $12,382,225.75. The trade was a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adobe

Several hedge funds have recently bought and sold shares of ADBE. Van Diest Capital LLC purchased a new stake in Adobe during the fourth quarter worth $323,000. Compound Planning Inc. increased its stake in shares of Adobe by 52.3% in the 4th quarter. Compound Planning Inc. now owns 5,181 shares of the software company’s stock worth $1,813,000 after acquiring an additional 1,779 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Adobe by 6.2% during the 4th quarter. Invesco Ltd. now owns 5,119,025 shares of the software company’s stock worth $1,791,607,000 after buying an additional 297,337 shares during the last quarter. Michels Family Financial LLC raised its position in shares of Adobe by 25.3% during the 4th quarter. Michels Family Financial LLC now owns 1,785 shares of the software company’s stock valued at $625,000 after buying an additional 360 shares during the period. Finally, Rare Wolf Capital LLC acquired a new position in Adobe in the fourth quarter valued at approximately $2,002,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe beat expectations last quarter (EPS $5.50 vs. $5.40 consensus) and revenue topped estimates ($6.19B vs. ~$6.11B); management issued FY26 guidance that implies continued earnings power — a fundamental offset to the sell-off.
• Neutral Sentiment: Figma’s strong Q4 and its Anthropic integration show AI can expand design platforms and SaaS usage — this validates an AI-driven demand case for some software, but it also intensifies competitive pressure in creative/design tools that touch Adobe’s business. Figma’s Anthropic Integration Could Flip the SaaSpocalypse Script
• Neutral Sentiment: Recent valuation pieces have put Adobe back in focus as shares sit far below prior highs; analysts and commentators are re-evaluating targets and risk assumptions. Assessing Adobe’s Valuation
• Neutral Sentiment: Long-term performance retrospectives and noisy short-interest reports in the data feed are background noise for traders but don’t change Adobe’s fundamentals in the near term. 20-Year Performance
• Negative Sentiment: Unusually large put-option activity: ~188,902 puts traded (≈+248% vs. typical), signaling heavy bearish bets or hedging that can amplify downside moves and pressure the stock today.
• Negative Sentiment: Persistent negative media/analyst tone: pieces highlighting AI as an existential threat to Adobe’s pricing power and growth have proliferated, increasing market skepticism. Adobe Stock Drops 26%
• Negative Sentiment: High-profile negative commentary (including Jim Cramer and cautionary analyst write-ups) is reinforcing the risk-off narrative for Adobe and the software sector. Jim Cramer Believes Adobe’s In Trouble Why Wall Street Is Turning Cautious
• Negative Sentiment: Analysis pieces warning of a “SaaS valuation reset” and questions about Adobe’s AI positioning keep downward pressure on multiples even as near-term earnings remain solid. SaaS Apocalypse Valuation Check

Adobe Stock Performance

NASDAQ:ADBE traded down $3.96 during midday trading on Thursday, hitting $259.21. The company’s stock had a trading volume of 3,608,834 shares, compared to its average volume of 5,563,281. Adobe has a fifty-two week low of $251.10 and a fifty-two week high of $461.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $106.41 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.02 and a beta of 1.51. The firm’s 50 day moving average is $313.11 and its 200-day moving average is $332.89.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.11 billion. During the same period in the prior year, the firm earned $4.81 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Equities analysts anticipate that Adobe will post 16.65 earnings per share for the current fiscal 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.