Adobe Inc. $ADBE Shares Sold by Fortis Capital Management LLC

Fortis Capital Management LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,864 shares of the software company’s stock after selling 2,925 shares during the quarter. Fortis Capital Management LLC’s holdings in Adobe were worth $4,099,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of ADBE. Western Pacific Wealth Management LP purchased a new stake in shares of Adobe in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in Adobe during the third quarter worth about $26,000. Beacon Financial Strategies CORP purchased a new stake in shares of Adobe in the fourth quarter valued at about $28,000. Marquette Asset Management LLC lifted its holdings in shares of Adobe by 72.3% in the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. Finally, TrustBank purchased a new position in shares of Adobe during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada decreased their price objective on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Piper Sandler cut their target price on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Sanford C. Bernstein reduced their target price on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a report on Friday, June 12th. Robert W. Baird decreased their price target on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Finally, BTIG Research initiated coverage on shares of Adobe in a report on Monday, April 13th. They set a “neutral” rating for the company. Seven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $271.30.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Morgan Stanley lowered Adobe to Underweight, saying multiple strategic transitions are happening at once and that AI disruption could make it harder for the company to reaccelerate growth. Adobe stock has been crushed by AI fears. Now Morgan Stanley has cut its rating to underweight
• Negative Sentiment: More Wall Street downgrades and commentary around Adobe’s AI exposure are adding to the selling pressure, with some analysts saying peers may offer cleaner AI monetization and faster growth. ADBE Stock Drops After Morgan Stanley Downgrade – Sees ‘Cleaner Growth And AI Monetization Elsewhere’
• Neutral Sentiment: Adobe continues to push into AI with new features in its experimental Project Indigo camera app, highlighting that it is still investing in product innovation even as investors worry about competitive threats. Adobe crams multiple AI tools into its experimental camera app
• Neutral Sentiment: Some coverage argues Adobe still looks attractive on valuation and that one analyst sees meaningful upside from current levels, but that view is being outweighed today by broader AI-related concern. ADBE stock is falling again but here’s why one Wall Street analyst sees a 31% upside

Adobe Trading Down 3.2%

Shares of ADBE stock opened at $227.16 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $376.16. The firm’s 50 day moving average price is $228.08 and its two-hundred day moving average price is $253.81. The stock has a market cap of $90.30 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period last 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. On average, analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its Board of Directors has approved a share buyback program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the transaction, the chief executive officer directly owned 359,538 shares in the company, valued at approximately $87,561,884.52. This represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Ricks bought 10,000 shares of the business’s 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 purchase, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by company 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.