Heard Capital LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,002 shares of the software company’s stock after purchasing an additional 11,637 shares during the period. Adobe accounts for about 5.1% of Heard Capital LLC’s holdings, making the stock its 10th biggest position. Heard Capital LLC owned 0.08% of Adobe worth $107,798,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of ADBE. Western Pacific Wealth Management LP purchased a new position in Adobe during the fourth quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new position in Adobe during the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Adobe during the third quarter valued at approximately $27,000. Caitlin John LLC purchased a new position in Adobe during the third quarter valued at approximately $28,000. Finally, Beacon Financial Strategies CORP purchased a new position in Adobe during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on ADBE. Royal Bank Of Canada reduced their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. Wolfe Research cut shares of Adobe from an “outperform” rating to a “peer perform” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective (down from $350.00) on shares of Adobe in a research note on Friday. Summit Redstone set a $350.00 price objective on shares of Adobe in a research note on Friday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Adobe in a research note on Friday, March 13th. Five analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $278.16.
Adobe Trading Up 0.5%
Shares of Adobe stock opened at $207.32 on Wednesday. Adobe Inc. has a 1 year low of $196.90 and a 1 year high of $399.67. The firm has a market cap of $83.80 billion, a PE ratio of 11.86, a PEG ratio of 0.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.91. The company has a 50 day simple moving average of $243.10 and a two-hundred day simple moving average of $276.75.
Adobe (NASDAQ:ADBE – Get Free Report) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the business posted $5.06 earnings per share. Adobe’s revenue for the quarter was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Analysts expect that Adobe Inc. will post 19.87 earnings per share for the current fiscal year.
Adobe announced that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Insider Buying and Selling at Adobe
In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the sale, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 over the last three months. 0.20% of the stock is owned by insiders.
Key Stories Impacting Adobe
Here are the key news stories impacting Adobe this week:
- Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, which supports Adobe’s positioning as an AI enabler and could strengthen long-term product adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
- Positive Sentiment: Several articles highlighted Adobe as potentially undervalued after its recent selloff, with some analysts and commentators calling it a buy-the-dip or value opportunity following its strong earnings and raised guidance. Should You Buy, Sell or Hold Adobe Stock Post Q2 Earnings?
- Neutral Sentiment: Market commentary from Barchart and other outlets suggests traders are debating whether the post-earnings weakness is overdone, with options data and technicals still pointing to elevated volatility. Following Adobe Earnings, Here’s What Barchart Data Says Is Next for ADBE Stock
- Neutral Sentiment: TD Cowen cut its price target on Adobe from $310 to $285, citing mixed signals including slower spending trends and weaker AI credit demand, but kept a Hold rating. Adobe (ADBE) Price Target Cut as TD Cowen Flags Slowing Spend and Weak AI Credit Demand
- Negative Sentiment: Adobe’s CFO departure is weighing on sentiment, with investors seeing the leadership change as a risk at a time when the company is already facing valuation and growth concerns. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.
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.
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