Glenview Trust Co Cuts Stock Holdings in Adobe Inc. $ADBE

Glenview Trust Co decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 35.8% in the 4th quarter, Holdings Channel reports. The firm owned 7,408 shares of the software company’s stock after selling 4,128 shares during the period. Glenview Trust Co’s holdings in Adobe were worth $2,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ADBE. Arrowstreet Capital Limited Partnership grew its holdings in shares of Adobe by 53.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox grew its holdings in shares of Adobe by 8,006.6% during the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock worth $562,109,000 after purchasing an additional 1,573,849 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Amundi grew its holdings in shares of Adobe by 17.9% during the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after purchasing an additional 742,646 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Adobe by 112.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after buying an additional 710,357 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $244.76 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. Adobe Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $421.48. The stock has a 50 day moving average price of $244.55 and a two-hundred day moving average price of $286.47. The company has a market capitalization of $98.93 billion, a P/E ratio of 14.26, a PEG ratio of 0.95 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the company posted $5.08 earnings per share. The business’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. Analysts expect that Adobe Inc. will post 19.14 earnings per share for the current year.

Adobe announced that its Board of Directors has authorized a stock buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 3,521 shares in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 owned 359,538 shares of the company’s stock, valued at $87,561,884.52. The trade was a 17.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. Jefferies Financial Group dropped their target price on Adobe from $400.00 to $290.00 and set a “hold” rating for the company in a research report on Monday, February 23rd. Dbs Bank downgraded Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays downgraded Adobe from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $335.00 to $275.00 in a research report on Friday, March 13th. Weiss Ratings downgraded Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Finally, Wells Fargo & Company dropped their target price on Adobe from $420.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.