Kestra Advisory Services LLC Sells 3,579 Shares of Adobe Inc. $ADBE

Kestra Advisory Services LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,825 shares of the software company’s stock after selling 3,579 shares during the quarter. Kestra Advisory Services LLC’s holdings in Adobe were worth $8,222,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Adobe in the fourth quarter worth $2,275,165,000. AQR Capital Management LLC boosted its holdings in Adobe by 55.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after purchasing an additional 920,353 shares during the period. Amundi boosted its holdings in Adobe by 17.9% in the 3rd quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after purchasing an additional 742,646 shares during the period. J. Stern & Co. LLP grew its position in Adobe by 26,128.1% in the 4th quarter. J. Stern & Co. LLP now owns 652,031 shares of the software company’s stock worth $228,204,000 after purchasing an additional 649,545 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Adobe by 10.9% in 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 purchasing an additional 611,358 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Adobe stock opened at $230.61 on Tuesday. The firm has a market capitalization of $91.67 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.75 and a beta of 1.43. The stock has a fifty day moving average price of $230.53 and a two-hundred day moving average price of $258.99. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the company earned $5.06 EPS. The firm’s revenue for the quarter 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. As a group, analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Adobe declared that its board has approved a share repurchase program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding 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 usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. DA Davidson cut their price objective on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, June 12th. BTIG Research started coverage on Adobe in a research report on Monday, April 13th. They set a “neutral” rating on the stock. The Goldman Sachs Group lowered their price target on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research note on Friday, June 12th. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, Piper Sandler reduced their price objective on Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $275.00.

Insider Activity

In other 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 approximately $867,046.25. This trade represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer owned 42,833 shares of the company’s stock, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The disclosure for this sale 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 three months. 0.20% of the stock is owned by corporate insiders.

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.