Thrivent Financial for Lutherans Has $22.51 Million Stock Holdings in Adobe Inc. $ADBE

Thrivent Financial for Lutherans decreased its position in Adobe Inc. (NASDAQ:ADBE) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,292 shares of the software company’s stock after selling 4,647 shares during the period. Thrivent Financial for Lutherans’ holdings in Adobe were worth $22,505,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $26,000. Western Pacific Wealth Management LP acquired a new stake in shares of Adobe during the 4th quarter worth approximately $26,000. Caitlin John LLC bought a new stake in shares of Adobe during the 3rd quarter valued at $28,000. Beacon Financial Strategies CORP bought a new stake in shares of Adobe during the 4th quarter valued at $28,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in shares of Adobe during the 3rd quarter valued at $27,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several analyst reports. Citigroup reissued a “neutral” rating on shares of Adobe in a research note on Friday, April 10th. DA Davidson set a $300.00 price objective on shares of Adobe in a research note on Friday, March 13th. Jefferies Financial Group reduced their price objective on shares of Adobe from $400.00 to $290.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Piper Sandler decreased their price target on shares of Adobe from $330.00 to $280.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, BTIG Research initiated coverage on shares of Adobe in a report on Monday, April 13th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of “Hold” and an average target price of $338.15.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. This represents a 17.66% 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 valued at $18,782,773 over the last three months. Company insiders own 0.20% of the company’s stock.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
• Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe’s Digital Media Opportunity?
• Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
• Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

Adobe Stock Performance

Shares of ADBE stock opened at $247.60 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $100.08 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The company’s 50 day moving average price is $247.93 and its two-hundred day moving average price is $290.36. Adobe Inc. has a 52 week low of $224.13 and a 52 week high of $422.95.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.08 EPS. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, analysts expect that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Adobe 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.