Thornburg Investment Management Inc. Purchases 40,847 Shares of Adobe Inc. $ADBE

Thornburg Investment Management Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 70.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 99,185 shares of the software company’s stock after buying an additional 40,847 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Adobe were worth $34,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Adobe by 0.8% during the third quarter. Vanguard Group Inc. now owns 41,369,395 shares of the software company’s stock worth $14,593,054,000 after purchasing an additional 344,816 shares during the period. State Street Corp increased its stake in shares of Adobe by 1.7% during the third quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock worth $7,277,941,000 after purchasing an additional 352,448 shares during the period. Geode Capital Management LLC increased its stake in shares of Adobe by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company’s stock worth $4,027,170,000 after purchasing an additional 414,049 shares during the period. Norges Bank bought a new position in Adobe during the 4th quarter worth $2,275,165,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Adobe by 10.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,228,503 shares of the software company’s stock worth $2,179,914,000 after acquiring an additional 611,358 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $204.02 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.91 and a current ratio of 0.75. Adobe Inc. has a 52 week low of $196.90 and a 52 week high of $405.00. The stock has a market capitalization of $82.46 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 0.80 and a beta of 1.42. The stock has a fifty day moving average of $244.54 and a 200-day moving average of $278.32.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the business posted $5.06 EPS. Adobe’s revenue for the quarter was up 12.7% on a year-over-year basis. 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 19.14 earnings per share for the current fiscal year.

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

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,091 shares of company stock valued at $18,782,773 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. KeyCorp lowered their price objective on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research note on Friday. The Goldman Sachs Group lowered their price objective on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research note on Friday. Argus restated a “hold” rating on shares of Adobe in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Adobe in a research note on Friday, March 13th. Finally, BTIG Research began coverage on Adobe in a research note on Monday, April 13th. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe has an average rating of “Hold” and an average target price of $278.16.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe reported record Q2 revenue of $6.62 billion and EPS of $5.96, both above expectations, while also raising full-year revenue and earnings guidance. The company said AI-driven demand and stronger subscription spending supported results. Adobe Reports Record Q2 Results
• Positive Sentiment: Management highlighted accelerating adoption of Adobe’s AI tools, with AI-first annual recurring revenue topping $500 million, which supports the long-term growth case. Adobe Q2 Earnings Beat Estimates, Revenues Up Y/Y, Shares Fall
• Neutral Sentiment: Despite the beat, Adobe signaled a strategic shift toward freemium AI products and prioritizing user growth over immediate monetization, which adds uncertainty around near-term ARR growth. ADBE Q2 Earnings Call Centers on Freemium AI Push, Raised Outlook
• Negative Sentiment: Investors were rattled by the sudden departure of CFO Dan Durn, which adds to leadership uncertainty while Adobe is also in the middle of a CEO succession process. Adobe raises annual revenue forecast, CFO to exit
• Negative Sentiment: Wall Street reacted with multiple price-target cuts and downgrades, reflecting concerns that Adobe’s core growth may be decelerating and that AI monetization is still not proven. Leadership Exits, Decelerating Core Growth Cloud Adobe’s Earnings Beat

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.