Adobe Inc. $ADBE Stake Cut by Peloton Wealth Strategists

Peloton Wealth Strategists lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 61.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,205 shares of the software company’s stock after selling 3,465 shares during the period. Peloton Wealth Strategists’ holdings in Adobe were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Heard Capital LLC raised its stake in Adobe by 3.9% during the fourth quarter. Heard Capital LLC now owns 308,002 shares of the software company’s stock worth $107,798,000 after acquiring an additional 11,637 shares during the period. Titan Wealth CI Ltd acquired a new stake in Adobe in the fourth quarter worth $4,905,000. Graham Capital Management L.P. lifted its stake in Adobe by 106.7% in the fourth quarter. Graham Capital Management L.P. now owns 28,824 shares of the software company’s stock valued at $10,088,000 after buying an additional 14,876 shares during the last quarter. Nicholas Wealth LLC. bought a new stake in Adobe in the fourth quarter valued at $1,271,000. Finally, Taikang Asset Management Hong Kong Co Ltd boosted its holdings in shares of Adobe by 46.8% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 19,071 shares of the software company’s stock valued at $6,675,000 after acquiring an additional 6,084 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the company’s 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 sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer owned 42,833 shares in the company, valued at $10,623,440.66. The trade was a 3.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADBE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Adobe in a report on Friday, March 13th. BTIG Research started coverage on shares of Adobe in a research note on Monday, April 13th. They set a “neutral” rating for the company. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price target (down from $350.00) on shares of Adobe in a research note on Friday. Royal Bank Of Canada cut their price target on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Finally, DA Davidson reduced their price objective on Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $278.16.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, which supports Adobe’s positioning as an AI enabler and could strengthen long-term product adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
• Positive Sentiment: Several articles highlighted Adobe as potentially undervalued after its recent selloff, with some analysts and commentators calling it a buy-the-dip or value opportunity following its strong earnings and raised guidance. Should You Buy, Sell or Hold Adobe Stock Post Q2 Earnings?
• Neutral Sentiment: Market commentary from Barchart and other outlets suggests traders are debating whether the post-earnings weakness is overdone, with options data and technicals still pointing to elevated volatility. Following Adobe Earnings, Here’s What Barchart Data Says Is Next for ADBE Stock
• Neutral Sentiment: TD Cowen cut its price target on Adobe from $310 to $285, citing mixed signals including slower spending trends and weaker AI credit demand, but kept a Hold rating. Adobe (ADBE) Price Target Cut as TD Cowen Flags Slowing Spend and Weak AI Credit Demand
• Negative Sentiment: Adobe’s CFO departure is weighing on sentiment, with investors seeing the leadership change as a risk at a time when the company is already facing valuation and growth concerns. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.

Adobe Trading Up 0.5%

Shares of ADBE stock opened at $207.32 on Wednesday. The stock has a 50-day simple moving average of $243.10 and a 200 day simple moving average of $276.75. The stock has a market capitalization of $83.80 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.72 and a beta of 1.42. Adobe Inc. has a fifty-two week low of $196.90 and a fifty-two week high of $399.67. The company has a quick ratio of 0.91, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the previous year, the company posted $5.06 EPS. The business’s revenue was up 12.7% compared to the same quarter last year. 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, sell-side analysts expect that Adobe Inc. will post 19.87 earnings per share for the current fiscal year.

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

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.