Sanctuary Advisors LLC Makes New $6.06 Million Investment in Adobe Inc. $ADBE

Sanctuary Advisors LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 29,551 shares of the software company’s stock, valued at approximately $6,058,000.

A number of other hedge funds also recently made changes to their positions in ADBE. Biondo Investment Advisors LLC bought a new stake in shares of Adobe during the 2nd quarter worth $2,647,000. Saranac Partners Ltd bought a new position in Adobe during the second quarter valued at about $797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Adobe during the second quarter valued at about $727,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Adobe during the second quarter worth about $540,000. Finally, Te Ahumairangi Investment Management Ltd bought a new stake in Adobe in the second quarter worth about $5,936,000. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $194.51 per share, with a total value 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. The trade was a 130.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research analyst reports. UBS Group cut shares of Adobe from a “buy” rating to an “equal weight” rating in a research note on Tuesday, July 21st. Barclays lowered their price target on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, June 12th. The Goldman Sachs Group dropped their price objective on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research note on Friday, June 12th. Mizuho reduced their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Finally, Weiss Ratings downgraded Adobe from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Seven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe has an average rating of “Hold” and a consensus target price of $270.96.

Adobe Price Performance

ADBE opened at $276.27 on Tuesday. The firm has a 50-day moving average price of $234.01 and a 200-day moving average price of $244.68. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $370.86. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $109.82 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.93 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping 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 company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm earned $5.06 EPS. 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. Equities analysts expect that Adobe Inc. will post 19.8 EPS for the current year.

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.