Horizon Investments LLC Cuts Stock Holdings in Adobe Inc. $ADBE

Horizon Investments LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,547 shares of the software company’s stock after selling 2,802 shares during the period. Horizon Investments LLC’s holdings in Adobe were worth $8,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADBE. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Adobe by 53.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares during the last quarter. Dodge & Cox boosted its holdings in shares of Adobe by 8,006.6% during the 3rd quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock worth $562,109,000 after purchasing an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after purchasing an additional 920,353 shares during the last quarter. Amundi boosted its holdings in shares of Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after purchasing an additional 742,646 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Adobe by 112.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the transaction, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,091 shares of company stock valued at $18,782,773 in the last quarter. Insiders own 0.20% of the company’s stock.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Q1 beat and confident guidance: Adobe reported Q1 results and guidance that topped expectations, reinforcing near-term revenue and margin visibility — a key catalyst supporting the rally. Read More.
• Positive Sentiment: $25 billion buyback: The Board authorized a $25B repurchase program (~24.9% of shares outstanding), which supports EPS, reduces float and signals management confidence — a material capital-return tailwind. Read More.
• Positive Sentiment: AI/product momentum: Adobe is pushing agentic and creative AI (Firefly public launch, Summit announcements and third‑party integrations like Anthropic/Claude), which expands stickiness for Creative Cloud and enterprise CX offerings. These product moves support longer‑term growth expectations. Read More. and Read More.
• Neutral Sentiment: Valuation debate and YTD weakness: Commentary asks whether the ~26% YTD decline creates a buying opportunity or reflects genuine execution/valuation concerns — useful for longer‑term investors assessing risk/reward. Read More.
• Neutral Sentiment: Analyst/peer context: Comparative analysis versus peers (e.g., Salesforce) highlights steady revenue but differences in margin/scale — relevant for relative valuation and sector allocation but not an immediate stock mover. Read More.
• Neutral Sentiment: Options/trader interest: Elevated option strategies and trading writeups are driving short‑term flows and volatility but don’t alter fundamentals. Read More.
• Negative Sentiment: Insider sale: CEO Shantanu Narayen sold 75,000 shares (~$18.3M disclosed), which can unsettle some investors even if the sale is personal or pre‑planned. Read More.
• Negative Sentiment: Legal/litigation risk: An investor lawsuit alleges copyright issues around AI training data — potential reputational, regulatory and litigation exposure that could pressure sentiment if it escalates. Read More.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. TD Cowen lowered their target price on Adobe from $400.00 to $325.00 and set a “hold” rating on the stock in a report on Tuesday, March 10th. Sanford C. Bernstein set a $447.00 target price on Adobe and gave the stock an “outperform” rating in a report on Friday, March 13th. DA Davidson set a $300.00 target price on Adobe in a report on Friday, March 13th. BMO Capital Markets lowered their target price on Adobe from $375.00 to $285.00 and set a “market perform” rating on the stock in a report on Friday, March 13th. Finally, The Goldman Sachs Group lowered their target price on Adobe from $290.00 to $220.00 and set a “sell” rating on the stock in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $338.15.

Adobe Stock Performance

Shares of Adobe stock opened at $250.71 on Friday. Adobe Inc. has a 52 week low of $224.13 and a 52 week high of $422.95. The business’s fifty day simple moving average is $250.36 and its 200-day simple moving average is $296.91. The firm has a market cap of $101.34 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.42. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47.

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

Adobe declared that its board has approved a stock repurchase program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Adobe

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.