Greenwood Capital Associates LLC Purchases Shares of 17,376 Adobe Inc. $ADBE

Greenwood Capital Associates LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,376 shares of the software company’s stock, valued at approximately $4,224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Flatrock Wealth Partners LLC bought a new position in Adobe during the first quarter valued at approximately $214,000. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Adobe by 143.2% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 3,811 shares of the software company’s stock worth $926,000 after acquiring an additional 2,244 shares during the last quarter. Jackson Thornton Wealth Management LLC lifted its holdings in shares of Adobe by 63.0% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 1,351 shares of the software company’s stock worth $304,000 after acquiring an additional 522 shares during the last quarter. Bank of Stockton boosted its stake in shares of Adobe by 28.5% in the 1st quarter. Bank of Stockton now owns 4,961 shares of the software company’s stock valued at $1,206,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Clearwave Capital LLC bought a new position in shares of Adobe during the 1st quarter valued at $281,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.3%

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

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

Adobe announced that its board has authorized a stock repurchase 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 buy 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 stock is undervalued.

Key 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

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. HSBC upgraded shares of Adobe from a “hold” rating to a “buy” rating and upped their price target for the company from $282.00 to $308.00 in a research report on Thursday, July 2nd. Argus reiterated a “hold” rating on shares of Adobe in a report on Monday, March 16th. The Goldman Sachs Group lowered their target price on Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a research note on Friday, June 12th. Finally, William Blair cut Adobe from an “outperform” rating to a “market perform” rating in a report on Thursday, March 26th. Six 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 data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus price target of $275.00.

Insiders Place Their Bets

In related news, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the transaction, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. The trade was a 17.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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.