MidFirst Bank Buys New Holdings in Adobe Inc. $ADBE

MidFirst Bank purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, HoldingsChannel.com reports. The firm purchased 11,831 shares of the software company’s stock, valued at approximately $2,426,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Western Pacific Wealth Management LP acquired a new position in shares of Adobe in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Adobe during the 3rd quarter worth approximately $26,000. TrustBank purchased a new position in Adobe in the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. purchased a new position in Adobe in the fourth quarter valued at approximately $31,000. Finally, Sankala Group LLC acquired a new position in Adobe during the fourth quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was bought 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 in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at approximately $1,010,797.92. The trade was a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.20% of the company’s stock.

Adobe Stock Down 3.8%

Shares of NASDAQ:ADBE opened at $254.04 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. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86. The company has a 50 day moving average of $228.82 and a two-hundred day moving average of $245.32. The company has a market capitalization of $100.98 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) 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 company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the firm posted $5.06 earnings per share. The business’s quarterly revenue 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. As a group, analysts forecast that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

ADBE has been the subject of several research reports. Citigroup reiterated a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. Jefferies Financial Group cut their target price on shares of Adobe from $290.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, June 12th. Freedom Capital lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Bank of America reaffirmed an “underperform” rating and set a $190.00 price target on shares of Adobe in a research report on Tuesday, July 7th. Finally, BMO Capital Markets lowered their price target on Adobe from $285.00 to $230.00 and set a “market perform” rating for the company in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $269.81.

Adobe Company 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.