K.J. Harrison & Partners Inc Takes Position in Adobe Inc. $ADBE

K.J. Harrison & Partners Inc acquired a new position in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,012 shares of the software company’s stock, valued at approximately $823,000.

Other hedge funds have also recently made changes to their positions in the company. Western Pacific Wealth Management LP acquired a new position in Adobe during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe in the third quarter valued at $26,000. TrustBank acquired a new stake in shares of Adobe in the fourth quarter valued at $28,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Adobe in the 4th quarter valued at $31,000. Finally, Sankala Group LLC acquired a new position in Adobe during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 416 shares of the 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 transaction, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Ricks acquired 10,000 shares of the business’s stock in a transaction on 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 acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. 0.20% of the stock is currently owned by company insiders.

Adobe Stock Performance

NASDAQ:ADBE opened at $254.04 on Tuesday. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $370.86. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The firm 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 business’s fifty day moving average price is $228.82 and its 200 day moving average price is $245.32.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business 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. On average, sell-side analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe declared that its board has approved a share buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to purchase up to 24.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. JPMorgan Chase & Co. lowered their target price on Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a report on Friday, June 12th. The Goldman Sachs Group reduced their price target on shares of Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research report on Friday, June 12th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Bank of America restated an “underperform” rating and issued a $190.00 price objective on shares of Adobe in a report on Tuesday, July 7th. Finally, Mizuho cut their target price on shares of Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Seven research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $269.81.

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.