Texas Capital Bank Wealth Management Services Inc Makes New Investment in Adobe Inc. $ADBE

Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,266 shares of the software company’s stock, valued at approximately $2,310,000.

Other hedge funds also recently made changes to their positions in the company. Nicholas Company Inc. boosted its position in shares of Adobe by 7.6% during the 4th 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 in the last quarter. Teacher Retirement System of Texas increased its stake in Adobe by 13.4% in the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after acquiring an additional 25,435 shares during the last quarter. Wealthfront Advisers LLC raised its position in Adobe by 13.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after purchasing an additional 6,426 shares in the last quarter. Orange Investment Advisors Inc. raised its position in Adobe by 21.6% during the fourth quarter. Orange Investment Advisors Inc. now owns 29,541 shares of the software company’s stock valued at $10,339,000 after purchasing an additional 5,254 shares in the last quarter. Finally, Milestone Asset Management LLC lifted its stake in Adobe by 426.2% during the fourth quarter. Milestone Asset Management LLC now owns 7,478 shares of the software company’s stock worth $2,617,000 after purchasing an additional 6,057 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity

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

Adobe Stock Performance

NASDAQ ADBE opened at $254.04 on Tuesday. The firm’s fifty day moving average price is $228.82 and its two-hundred day moving average price is $245.32. The stock has a market cap of $100.98 billion, a PE ratio of 14.53, a PEG ratio of 0.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $370.86.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the company earned $5.06 EPS. Adobe’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, equities analysts expect that Adobe Inc. will post 19.81 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. CLSA initiated coverage on Adobe in a report on Monday, July 20th. They issued an “outperform” rating and a $300.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, June 12th. BMO Capital Markets reduced their price objective on Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, June 12th. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Mizuho lowered their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Seven 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 MarketBeat.com, Adobe presently has a consensus rating of “Hold” and an average target price of $269.81.

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.