3,186,554 Shares in Adobe Inc. $ADBE Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,186,554 shares of the software company’s stock, valued at approximately $653,307,000. Legal & General Group Plc owned 0.80% of Adobe as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ADBE. BlackRock Inc. bought a new stake in shares of Adobe during the second quarter valued at approximately $8,437,821,000. Norges Bank bought a new position in Adobe in the fourth quarter worth $2,275,165,000. Bank of New York Mellon Corp acquired a new stake in Adobe during the second quarter worth $954,468,000. Deutsche Bank AG acquired a new stake in Adobe during the second quarter worth $750,203,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Adobe in the 2nd quarter valued at $211,248,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 0.4%

Shares of NASDAQ ADBE opened at $276.27 on Tuesday. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The business has a fifty day moving average of $234.01 and a two-hundred day moving average of $244.68. The stock has a market cap of $109.82 billion, a PE ratio of 15.80, a PEG ratio of 0.93 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, equities research analysts expect that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at approximately $1,010,797.92. The trade was a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent research reports. Freedom Capital cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Royal Bank Of Canada lowered their target price on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. HSBC raised shares of Adobe from a “hold” rating to a “buy” rating and increased their price target for the stock from $282.00 to $308.00 in a research report on Thursday, July 2nd. Weiss Ratings cut shares of Adobe from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Finally, Mizuho decreased their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $270.96.

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.