Adobe Inc. $ADBE Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 27.3% in the 1st quarter, Holdings Channel reports. The fund owned 13,175 shares of the software company’s stock after selling 4,936 shares during the period. Edgestream Partners L.P.’s holdings in Adobe were worth $3,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of ADBE. Norges Bank acquired a new stake in shares of Adobe during the 4th quarter worth approximately $2,275,165,000. AQR Capital Management LLC lifted its stake in shares of 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% during the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after buying an additional 742,646 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Adobe by 566.1% during the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock worth $199,526,000 after buying an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in Adobe during the first quarter worth $167,494,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $250.41 on Friday. The stock has a market capitalization of $99.54 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.84 and a beta of 1.43. The company’s fifty day moving average price is $226.69 and its 200 day moving average price is $248.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe Inc. has a 1 year low of $190.12 and a 1 year 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, topping analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.06 earnings per share. 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 research analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to purchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s latest AI acquisition reportedly cleared Washington without significant regulatory obstacles, removing a potential deal risk and strengthening the company’s efforts to expand AI-powered creative tools. Adobe’s latest AI acquisition just breezed through Washington
• Positive Sentiment: Recent commentary argues that AI is enhancing Adobe’s business rather than replacing it, potentially supporting new monetization opportunities, stronger customer engagement and a rebuilding of the company’s growth engine. Adobe’s latest quarterly results also showed roughly 13% year-over-year revenue growth and performance above analyst expectations. Adobe: How AI Is Enhancing Its Business, Not Killing It
• Positive Sentiment: Investors are also considering ways to participate in Adobe’s AI upside while hedging risks, suggesting that the stock remains a significant target for AI-related trading and positioning. As Adobe monetizes AI, here’s a way to trade it and hedge against risks
• Neutral Sentiment: Analyst and investor views remain divided. Some see Adobe’s valuation and free-cash-flow generation as attractive, while others remain concerned about AI disruption, software-sector weakness and the need to restore faster growth. Adobe Stock Trades Below The Market on Earnings While Its Growth Engine Is Being Rebuilt
• Negative Sentiment: Adobe Chief Accounting Officer Jillian Forusz sold 416 shares worth approximately $110,000. The transaction was relatively small, but it adds to a pattern of insider selling that may weigh modestly on sentiment. SEC Form 4 filing
• Negative Sentiment: A reported collapse of a highly leveraged AI hedge fund and forced selling of AI-infrastructure positions could reinforce broader caution around crowded AI trades and software-sector volatility, although it does not directly affect Adobe’s operations. AI hedge fund collapses after margin calls

Analysts Set New Price Targets

A number of research firms have weighed in on ADBE. TD Cowen cut their price objective on shares of Adobe from $310.00 to $285.00 and set a “hold” rating for the company in a report on Monday, June 8th. Wolfe Research lowered shares of Adobe from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 12th. BTIG Research assumed coverage on Adobe in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Evercore set a $225.00 target price on Adobe and gave the company an “in-line” rating in a research report on Friday, June 12th. Finally, BMO Capital Markets cut their price target on Adobe from $285.00 to $230.00 and set a “market perform” rating for the company in a research note on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $271.30.

Insider Transactions at Adobe

In related news, Director David A. Ricks purchased 10,000 shares of Adobe stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $109,961.28. Following the completion of 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 SEC filing for this sale provides additional information. 0.20% of the stock is owned by 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.