First Merchants Corp Has $378,000 Stock Holdings in Adobe Inc. $ADBE

First Merchants Corp trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 69.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,553 shares of the software company’s stock after selling 3,519 shares during the quarter. First Merchants Corp’s holdings in Adobe were worth $378,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. SWAN Capital LLC raised its holdings in shares of Adobe by 43.1% in the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after acquiring an additional 31 shares during the last quarter. Logan Capital Management Inc. boosted its stake in Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after purchasing an additional 32 shares during the last quarter. Peoples Bank KS increased its holdings in Adobe by 1.6% during the 4th quarter. Peoples Bank KS now owns 2,041 shares of the software company’s stock worth $714,000 after purchasing an additional 33 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Adobe by 16.1% in the fourth quarter. Rosenberg Matthew Hamilton now owns 245 shares of the software company’s stock worth $86,000 after purchasing an additional 34 shares during the last quarter. Finally, Marquette Asset Management LLC raised its stake in shares of Adobe by 72.3% in the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after purchasing an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $194.90 on Tuesday. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $392.58. The company’s 50 day moving average price is $239.67 and its two-hundred day moving average price is $273.22. The stock has a market cap of $77.47 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.68 and a beta of 1.42. 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 (NASDAQ:ADBE) last released 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 return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period in the prior year, the company posted $5.06 earnings per share. Adobe’s quarterly revenue 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. On average, equities analysts predict that Adobe Inc. will post 19.73 earnings per share for the current year.

Adobe declared that its Board of Directors has authorized a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Mizuho decreased their price target on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. William Blair cut Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 26th. Finally, BTIG Research initiated coverage on shares of Adobe in a report on Monday, April 13th. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus price target of $278.16.

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was 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 $867,046.25. This trade represents a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced new agentic AI partnerships at Cannes Lions, including agency, technology, and systems integrator deals aimed at making Adobe the “infrastructure layer” for personalized customer experiences. The company also said it is embedding Creative Agent across Firefly and Creative Cloud, which could improve workflow productivity and deepen product usage. Adobe Accelerates Agentic AI Adoption Through New Agency and Technology Partnerships
• Positive Sentiment: Several commentators highlighted Adobe’s valuation as attractive after the selloff, with value investors and analysts pointing to strong buybacks, solid ARR trends, and what they see as an overly pessimistic view of AI disruption. One analyst also reiterated a Buy rating with a high price target, reinforcing the idea that the stock may be undervalued. Paul Chew Reiterates Buy on Adobe
• Neutral Sentiment: Adobe is expanding its free and freemium AI tools and moving further into commerce media, which could broaden adoption and support longer-term growth, but the market is still waiting to see whether this strategy translates into stronger revenue acceleration. Adobe Opens Its AI Tools For Free And Expands Into Commerce Media
• Negative Sentiment: Adobe continues to face skepticism that its AI shift could pressure pricing and growth, and some coverage noted that the company is still searching for a new CEO while its CFO departs. Citi also cut its price target to $228 from $264, keeping a Neutral rating, which may weigh on sentiment. Citi Cuts PT on Adobe Inc. (ADBE)

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.