MidFirst Bank Makes New Investment in Adobe Inc. $ADBE

MidFirst Bank bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,831 shares of the software company’s stock, valued at approximately $2,426,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. Nicholas Company Inc. boosted its position in shares of Adobe by 7.6% in 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 in the last quarter. Teacher Retirement System of Texas increased its holdings in Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after acquiring an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after acquiring an additional 6,426 shares in the last quarter. Orange Investment Advisors Inc. raised its position in Adobe by 21.6% during the fourth quarter. Orange Investment Advisors Inc. now owns 29,541 shares of the software company’s stock worth $10,339,000 after acquiring an additional 5,254 shares during the last quarter. Finally, Milestone Asset Management LLC lifted its holdings in shares of Adobe by 426.2% in the fourth quarter. Milestone Asset Management LLC now owns 7,478 shares of the software company’s stock valued at $2,617,000 after purchasing an additional 6,057 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

NASDAQ:ADBE opened at $254.04 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market cap of $100.98 billion, a PE ratio of 14.53, a P/E/G ratio of 0.89 and a beta of 1.40. The firm has a 50 day simple moving average of $228.82 and a 200-day simple moving average of $245.32. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $370.86.

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

Adobe announced that its board has initiated a stock buyback program on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the sale, the chief accounting officer owned 3,824 shares of the company’s stock, valued at $1,010,797.92. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks bought 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the purchase, 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 disclosure for this purchase is available in the SEC filing. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADBE. Royal Bank Of Canada lowered their price target on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adobe in a research note on Wednesday, June 3rd. Sanford C. Bernstein lowered their target price on Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a report on Friday, June 12th. Barclays dropped their price target on Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, June 12th. Finally, Wolfe Research cut Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $269.81.

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.