Adobe Inc. $ADBE Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 77.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,097 shares of the software company’s stock after selling 3,878 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Adobe were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ADBE. Western Pacific Wealth Management LP acquired a new stake in shares of Adobe in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe in the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Adobe in the 3rd quarter worth about $27,000. Caitlin John LLC acquired a new stake in shares of Adobe in the 3rd quarter worth about $28,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Adobe in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 3.2%

ADBE stock opened at $255.64 on Tuesday. Adobe Inc. has a 52 week low of $224.13 and a 52 week high of $422.95. The company has a market capitalization of $103.33 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The firm’s 50-day moving average is $247.40 and its two-hundred day moving average is $289.63. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm earned $5.08 EPS. Adobe’s revenue was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe announced that its board has approved a share repurchase program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding 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 a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value 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. This represents a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 77,091 shares of company stock valued at $18,782,773. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. Barclays cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $335.00 to $275.00 in a report on Friday, March 13th. Wells Fargo & Company lowered their target price on Adobe from $420.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. Jefferies Financial Group lowered their target price on Adobe from $400.00 to $290.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their target price on Adobe from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Finally, Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and an average price target of $338.15.

About Adobe

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.