Thornburg Investment Management Inc. Increases Holdings in Adobe Inc. $ADBE

Thornburg Investment Management Inc. increased its position in Adobe Inc. (NASDAQ:ADBE) by 55.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,807 shares of the software company’s stock after buying an additional 96,292 shares during the quarter. Thornburg Investment Management Inc. owned 0.07% of Adobe worth $55,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Western Pacific Wealth Management LP bought a new stake in shares of Adobe in the 4th quarter worth approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Adobe in the 3rd quarter valued at $26,000. TrustBank bought a new position in shares of Adobe during the 4th quarter valued at $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Adobe during the 2nd quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Adobe in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director David A. Ricks acquired 10,000 shares of Adobe stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director owned 17,655 shares in the company, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jillian Forusz sold 416 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This trade represents a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ADBE. KeyCorp lowered their price target on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research note on Friday, June 12th. The Goldman Sachs Group reduced their price objective on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research note on Friday, June 12th. Wall Street Zen downgraded Adobe from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Bank of America boosted their target price on Adobe from $190.00 to $220.00 and gave the company an “underperform” rating in a research note on Wednesday, August 19th. Finally, Royal Bank Of Canada dropped their target price on Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, June 8th. Seven investment 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, the company currently has an average rating of “Hold” and a consensus target price of $270.96.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s stock broke above technical resistance near $275 and $285 and reclaimed key moving averages. Analysts identified potential upside targets around $306.30 and $330.61, while a developing “golden cross” pattern is supporting bullish momentum ahead of the company’s upcoming earnings report. Adobe Stock Breakout Targets $306, Then $330 as ADBE Reverses
• Positive Sentiment: Strong results and guidance remain a fundamental support. Adobe’s latest quarter exceeded consensus estimates for both earnings and revenue, with revenue up 12.7% year over year; management’s fiscal 2026 EPS guidance is $24.35–$24.45.
• Positive Sentiment: Adobe is expanding AI capabilities across Photoshop, Firefly, Acrobat and Adobe Express. Photoshop’s optional prompt-based AI editing mode could improve product engagement and reinforce Adobe’s competitive position in creative software. Adobe Photoshop Adds a Whole New AI Editing Mode
• Positive Sentiment: An expanded, multiyear partnership with Stagwell will integrate Adobe’s data intelligence, creative transformation and AI tools into enterprise marketing initiatives, potentially supporting customer acquisition and retention. Stagwell Expands Strategic Partnership with Adobe
• Neutral Sentiment: Adobe benefited from a broader enterprise-software rally after Salesforce reported strong results, raised guidance and announced an Anthropic partnership. The move is a sector read-through rather than an Adobe-specific financial update. Salesforce Soars as Enterprise Software Rebounds
• Negative Sentiment: A comparison with Shopify suggests Adobe is lagging in AI-driven ecommerce, where Shopify is benefiting from faster gross merchandise volume growth, greater payments adoption and expanding agentic-commerce capabilities. This may raise concerns about Adobe’s relative growth opportunities outside its core creative and document franchises. SHOP vs. ADBE: Which Stock Has the Edge in AI-Driven Ecommerce?

Adobe Trading Up 0.8%

Shares of ADBE opened at $291.52 on Friday. The stock has a market capitalization of $115.88 billion, a P/E ratio of 16.68, a PEG ratio of 0.98 and a beta of 1.40. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $370.86. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $240.67 and a two-hundred day simple moving average of $245.14.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 during 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 was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $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. On average, research analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe Company 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.