Adobe Inc. $ADBE Shares Sold by SouthState Bank Corp

SouthState Bank Corp cut its stake in Adobe Inc. (NASDAQ:ADBE) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,047 shares of the software company’s stock after selling 2,890 shares during the quarter. SouthState Bank Corp’s holdings in Adobe were worth $11,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. Willis Investment Counsel boosted its position in Adobe by 138.9% in the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock valued at $14,250,000 after buying an additional 23,671 shares during the last quarter. Nicholas Company Inc. increased its position in shares of Adobe by 7.6% during the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after acquiring an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Adobe by 13.4% in the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after acquiring an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC lifted its stake 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 worth $19,312,000 after acquiring an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC boosted its holdings in Adobe by 301.1% in the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after purchasing an additional 4,874 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is advancing its AI strategy, including a planned acquisition of Topaz Labs, which should deepen its AI-powered creative tools and strengthen its core product suite. Adobe (ADBE) Buys Topaz Labs As AI Revenue Runs At 3x Prior Year
• Positive Sentiment: Adobe’s AI-first recurring revenue is growing quickly, with management saying it is running at more than three times last year’s pace and now above $500 million, which supports the long-term growth narrative. Adobe (ADBE) Freemium AI Push Puts Valuation Back In Focus
• Positive Sentiment: Technical momentum has improved, with Adobe recently breaking above its 50-day moving average, which some traders view as a short-term bullish signal. Adobe Systems (ADBE) Recently Broke Out Above the 50-Day Moving Average
• Neutral Sentiment: Several articles highlighted Adobe’s AI and brand-discovery efforts, including commentary from its CMO on how AI is changing marketing and search behavior, but these were more strategic than immediately market-moving. Adobe CMO Lara Balazs Says AI Is Rewriting Brand Discovery: ‘There’s AI. Do That.’
• Neutral Sentiment: Adobe continues to draw investor attention after strong quarterly results and raised guidance, but those positives are being balanced against valuation concerns and the risk of softer enterprise spending. Adobe Inc. (ADBE) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: IBM’s warning about weaker enterprise software spending is weighing on Adobe and the broader software group, raising fears that customers may delay or cut software purchases. IBM Warning Hits Software Stocks
• Negative Sentiment: Adobe’s stock has been in a longer-term downtrend despite recent rebounds, so some investors may still be cautious about the valuation and recovery path. Is Adobe Stock Really Broken, or Just Violently Marked Down?

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. 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 report on Friday, June 12th. Citizens Jmp reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. JPMorgan Chase & Co. cut their price objective on Adobe from $420.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Piper Sandler decreased their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Finally, UBS Group set a $365.00 price target on Adobe in a report on Friday, June 12th. Six analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $275.00.

Adobe Price Performance

NASDAQ ADBE opened at $220.78 on Wednesday. The company has a 50-day moving average price of $229.83 and a two-hundred day moving average price of $258.06. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $376.16. The stock has a market cap of $87.76 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43. 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 for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Analysts forecast that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its Board of Directors has initiated a share 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 often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks bought 10,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, with a total value of $1,945,100.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. This trade represents a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 77,091 shares of company stock valued at $18,782,773 in the last quarter. 0.20% of the stock is owned by insiders.

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.