Adobe Inc. $ADBE Shares Sold by Saturna Capital Corp

Saturna Capital Corp cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 94.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,533 shares of the software company’s stock after selling 156,117 shares during the quarter. Saturna Capital Corp’s holdings in Adobe were worth $2,317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Willis Investment Counsel increased its holdings in Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock valued at $14,250,000 after buying an additional 23,671 shares during the last quarter. Nicholas Company Inc. lifted its holdings in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after buying an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after acquiring an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after acquiring an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC increased its holdings in shares of Adobe by 301.1% in the 4th quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after acquiring an additional 4,874 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 3.2%

Shares of NASDAQ ADBE opened at $227.16 on Wednesday. The business has a 50-day moving average price of $228.08 and a 200 day moving average price of $253.81. The stock has a market cap of $90.30 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping the consensus estimate of $5.82 by $0.14. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter 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. Equities research analysts forecast that Adobe Inc. will post 19.81 earnings per share for the current year.

Adobe declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ADBE has been the topic of several research analyst reports. Piper Sandler cut their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Adobe in a research note on Wednesday, June 3rd. Wolfe Research lowered shares of Adobe from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 12th. KeyCorp cut their price objective on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a report on Friday, June 12th. Finally, William Blair cut shares of Adobe from an “outperform” rating to a “market perform” rating in a report on Thursday, March 26th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $271.30.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Morgan Stanley lowered Adobe to Underweight, saying multiple strategic transitions are happening at once and that AI disruption could make it harder for the company to reaccelerate growth. Adobe stock has been crushed by AI fears. Now Morgan Stanley has cut its rating to underweight
• Negative Sentiment: More Wall Street downgrades and commentary around Adobe’s AI exposure are adding to the selling pressure, with some analysts saying peers may offer cleaner AI monetization and faster growth. ADBE Stock Drops After Morgan Stanley Downgrade – Sees ‘Cleaner Growth And AI Monetization Elsewhere’
• Neutral Sentiment: Adobe continues to push into AI with new features in its experimental Project Indigo camera app, highlighting that it is still investing in product innovation even as investors worry about competitive threats. Adobe crams multiple AI tools into its experimental camera app
• Neutral Sentiment: Some coverage argues Adobe still looks attractive on valuation and that one analyst sees meaningful upside from current levels, but that view is being outweighed today by broader AI-related concern. ADBE stock is falling again but here’s why one Wall Street analyst sees a 31% upside

Insider Activity

In related news, Director David A. Ricks purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of the transaction, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.20% of the company’s stock.

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.