Cullen Capital Management LLC Invests $1.11 Million in Adobe Inc. $ADBE

Cullen Capital Management LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,431 shares of the software company’s stock, valued at approximately $1,113,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicholas Company Inc. increased its position in shares of Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after purchasing an additional 12,400 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Adobe by 13.2% in the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after buying an additional 6,426 shares during the period. Orange Investment Advisors Inc. lifted its holdings in shares of Adobe by 21.6% in the fourth quarter. Orange Investment Advisors Inc. now owns 29,541 shares of the software company’s stock valued at $10,339,000 after buying an additional 5,254 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in Adobe by 92.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 22,876 shares of the software company’s stock valued at $8,007,000 after buying an additional 11,003 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Adobe during the second quarter valued at about $2,289,000. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $276.27 on Tuesday. Adobe Inc. has a one year low of $190.12 and a one year high of $370.86. The firm has a 50-day moving average of $234.01 and a two-hundred day moving average of $244.68. The firm has a market capitalization of $109.82 billion, a PE ratio of 15.80, a P/E/G ratio of 0.93 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The business 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%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous 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, analysts forecast that Adobe Inc. will post 19.8 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 416 shares of the firm’s 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 directly owned 3,824 shares of the company’s stock, valued at approximately $1,010,797.92. This trade represents a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Adobe from $190.00 to $220.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 19th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research note on Friday, June 12th. UBS Group lowered shares of Adobe from a “buy” rating to an “equal weight” rating in a research note on Tuesday, July 21st. Freedom Capital cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Adobe from $420.00 to $340.00 and set an “overweight” rating on the stock in a research 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 company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus price target of $270.96.

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.