The Manufacturers Life Insurance Company Acquires Shares of 731,657 Adobe Inc. $ADBE

The Manufacturers Life Insurance Company acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, HoldingsChannel reports. The firm acquired 731,657 shares of the software company’s stock, valued at approximately $150,005,000.

Several other large investors have also recently made changes to their positions in the company. Nicholas Company Inc. raised its holdings 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. Wealthfront Advisers LLC grew its holdings in shares of Adobe by 13.2% in 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. grew its holdings in shares of Adobe by 21.6% in 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. Ashton Thomas Private Wealth LLC increased its position in Adobe by 92.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 22,876 shares of the software company’s stock worth $8,007,000 after purchasing an additional 11,003 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Adobe in the second quarter worth $2,289,000. 81.79% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. The trade was 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.

Adobe Stock Up 0.4%

Shares of ADBE opened at $276.27 on Tuesday. 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 business has a fifty day moving average of $234.01 and a 200 day moving average of $244.68. The company has a market cap of $109.82 billion, a PE ratio of 15.80, a P/E/G ratio of 0.93 and a beta of 1.40. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business 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 business posted $5.06 earnings per share. 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 19.8 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on ADBE shares. KeyCorp lowered their price objective on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, June 12th. Barclays reduced their target price on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, June 12th. BMO Capital Markets decreased their target price 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. Oppenheimer reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Finally, Jefferies Financial Group dropped their price target on Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Adobe presently has a consensus rating of “Hold” and an average target price of $270.96.

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.