Meyer Handelman Co. Sells 12,947 Shares of Adobe Inc. $ADBE

Meyer Handelman Co. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 48.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,911 shares of the software company’s stock after selling 12,947 shares during the quarter. Meyer Handelman Co.’s holdings in Adobe were worth $3,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADBE. Western Pacific Wealth Management LP bought a new position in Adobe during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Adobe in the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Adobe in the third quarter valued at $27,000. Caitlin John LLC bought a new stake in Adobe in the third quarter valued at $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of Adobe during the fourth quarter valued at about $28,000. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by corporate insiders.

Adobe Price Performance

ADBE stock opened at $193.41 on Friday. The company has a market capitalization of $76.88 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42. 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 52-week low of $190.12 and a 52-week high of $392.58. The business has a 50-day simple moving average of $237.40 and a two-hundred day simple moving average of $270.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping 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 firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the business posted $5.06 earnings per share. The company’s quarterly revenue 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. Research analysts expect that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Adobe declared that its board has authorized a stock repurchase program on Tuesday, April 21st that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, adding advanced AI image and video enhancement models to its creative software suite and reinforcing its push to lead in generative AI. Adobe to Acquire Topaz Labs
• Positive Sentiment: The acquisition is being positioned as a way to deepen AI functionality across Creative Cloud, which could improve Adobe’s product moat and support future subscription growth. Adobe acquires image and video enhancement tool maker Topaz Labs
• Positive Sentiment: Adobe introduced Firefly Foundry, a new enterprise offering aimed at custom AI models and brand-consistent content creation, showing that management is still expanding its AI monetization strategy. Adobe Introduces Firefly Foundry
• Neutral Sentiment: Several commentary pieces argue that Adobe is looking more attractively valued after its steep decline, but they also highlight investor skepticism about whether the company can reaccelerate growth quickly. Is Adobe Stock A Powerhouse Or A Pass?
• Neutral Sentiment: Adobe’s Analytics data showed strong U.S. online spending at the start of Prime Day, but this is more of a macro e-commerce indicator than a direct driver for Adobe’s core software business. US online spending hits $8.3 billion as Amazon Prime Day kicks off
• Negative Sentiment: Market commentary continues to note that Adobe has been trailing the broader market, with investors still worried about its slower growth and recent stock weakness despite the AI push. Why software stocks like INTU, ADBE, TTD, WDAY, CRM are trailing the S&P 500

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADBE. Morgan Stanley cut their price objective on shares of Adobe from $425.00 to $365.00 and set an “equal weight” rating on the stock in a research report on Friday, March 13th. Sanford C. Bernstein dropped their price target on Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research note on Friday, June 12th. Piper Sandler cut their price target on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. William Blair cut Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada decreased their price objective on Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, June 8th. Five research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $278.16.

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.