State of Wyoming Takes Position in Adobe Inc. $ADBE

State of Wyoming bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,468 shares of the software company’s stock, valued at approximately $506,000.

A number of other institutional investors have also added to or reduced their stakes in ADBE. SWAN Capital LLC grew its holdings in Adobe by 43.1% during the third quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after purchasing an additional 31 shares during the period. Logan Capital Management Inc. raised its stake in Adobe by 0.3% in the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after buying an additional 32 shares during the period. Vista Capital Partners Inc. lifted its position in shares of Adobe by 5.8% in the second quarter. Vista Capital Partners Inc. now owns 624 shares of the software company’s stock valued at $241,000 after buying an additional 34 shares during the last quarter. Klingman & Associates LLC lifted its position in shares of Adobe by 3.5% in the fourth quarter. Klingman & Associates LLC now owns 1,104 shares of the software company’s stock valued at $386,000 after buying an additional 37 shares during the last quarter. Finally, Seeds Investor LLC boosted its stake in shares of Adobe by 6.7% during the 4th quarter. Seeds Investor LLC now owns 617 shares of the software company’s stock worth $216,000 after acquiring an additional 39 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 3.8%

ADBE stock opened at $254.04 on Tuesday. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $370.86. The company has a market capitalization of $100.98 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. The company’s 50-day simple moving average is $228.82 and its 200 day simple moving average is $245.32. 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 (NASDAQ:ADBE) last issued 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 net margin of 28.69% and a return on equity of 65.11%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company 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, sell-side analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current year.

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

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 416 shares of the 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 owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Ricks acquired 10,000 shares of the stock in a transaction on Thursday, June 25th. The shares were 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 trade represents a 130.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Adobe in a report on Wednesday, June 3rd. Royal Bank Of Canada reduced their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, June 8th. UBS Group downgraded shares of Adobe from a “buy” rating to an “equal weight” rating in a report on Tuesday, July 21st. BMO Capital Markets dropped their price objective on shares of Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, June 12th. Finally, 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. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $269.81.

About Adobe

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.