17,376 Shares in Adobe Inc. $ADBE Purchased by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the 1st quarter, Holdings Channel reports. The firm acquired 17,376 shares of the software company’s stock, valued at approximately $4,224,000.

Other large investors have also bought and sold shares of the company. State Street Corp boosted its position 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 valued at $7,277,941,000 after purchasing an additional 352,448 shares in the last quarter. Geode Capital Management LLC raised its holdings in Adobe by 3.7% in 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 in the last quarter. Norges Bank bought a new position in Adobe in the fourth quarter worth $2,275,165,000. Arrowstreet Capital Limited Partnership raised its holdings in Adobe by 10.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,228,503 shares of the software company’s stock worth $2,179,914,000 after purchasing an additional 611,358 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Adobe by 6.2% during the fourth quarter. Invesco Ltd. now owns 5,119,025 shares of the software company’s stock valued at $1,791,607,000 after buying an additional 297,337 shares during the period. 81.79% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. This trade represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks purchased 10,000 shares of Adobe stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy from Hold and raised its price target to $308, which helped reinforce a bullish view that the company’s AI strategy can support longer-term growth. Is Adobe Inc. (ADBE) the Best Beaten Down Technology Stock to Buy Now?
• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI company focused on image and video enhancement, which could strengthen Adobe’s creative software and AI capabilities. Adobe (ADBE) to Acquire Topaz Labs
• Positive Sentiment: Adobe also expanded its GenStudio commerce media offering by integrating LiveRamp purchase data, a move that may improve targeting and workflow automation for advertisers and retailers. Adobe (ADBE) Brings LiveRamp Purchase Data Into GenStudio For Commerce Media
• Neutral Sentiment: Some analysts and commentary say Adobe looks cheap after its selloff, but debate remains over whether the valuation is a true opportunity or a value trap. Adobe’s stock is temptingly cheap. Should investors bite?
• Negative Sentiment: Bank of America reinstated Adobe with an Underperform rating and a $190 price target, arguing that generative AI is increasing competitive pressure on Adobe’s core creative software business. Adobe reinstated at Underperform by Bank of America as AI pressures growth outlook
• Negative Sentiment: Phillip Securities also downgraded Adobe to Neutral, reflecting ongoing concern that AI competition could weigh on future growth. Phillip Securities Downgrades Adobe (ADBE) to Neutral, Here’s What You Should Know

Adobe Trading Down 0.3%

NASDAQ ADBE opened at $220.94 on Thursday. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $384.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average price is $231.65 and its 200-day moving average price is $261.73. The stock has a market cap of $87.82 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.72 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm 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, equities analysts forecast that Adobe Inc. will post 19.8 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their target price on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research report on Friday, June 12th. Wolfe Research cut shares of Adobe from an “outperform” rating to a “peer perform” rating 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. Weiss Ratings restated a “sell (d+)” rating on shares of Adobe in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $275.00.

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.