Adobe Inc. $ADBE Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,567 shares of the software company’s stock after selling 4,143 shares during the period. FourThought Financial Partners LLC’s holdings in Adobe were worth $3,698,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADBE. Arrowstreet Capital Limited Partnership boosted its position in shares of Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after acquiring an additional 1,952,994 shares during the last quarter. Dodge & Cox boosted its position in shares of Adobe by 8,006.6% in the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock worth $562,109,000 after acquiring an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after acquiring an additional 920,353 shares during the last quarter. Amundi boosted its position in shares of Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after acquiring an additional 742,646 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Adobe by 112.6% in the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after acquiring an additional 710,357 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADBE shares. William Blair lowered Adobe from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 26th. BMO Capital Markets reduced their price target on shares of Adobe from $375.00 to $285.00 and set a “market perform” rating on the stock in a research report on Friday, March 13th. Royal Bank Of Canada decreased their price objective on shares of Adobe from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Adobe in a research note on Friday, March 13th. Finally, Mizuho reiterated a “neutral” rating and set a $270.00 price objective (down from $315.00) on shares of Adobe in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Hold” and an average target price of $338.15.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is expanding its AI creative tools into Google Gemini, letting users access Firefly-powered and other creative workflows inside Gemini. That could broaden Adobe’s reach and reinforce its AI strategy. Adobe for creativity connector expands AI creative workflows to Gemini
• Positive Sentiment: Reports say Gemini will soon be able to edit photos across Lightroom and Photoshop, and that Adobe’s professional tools are being integrated more deeply into Google’s ecosystem. Investors may see this as a distribution win for Adobe’s software suite. Gemini will soon be able to edit photos for you across Lightroom and Photoshop
• Positive Sentiment: Michael Burry reportedly maintained a position in Adobe, which may be helping sentiment around the stock despite his broader warning about an AI bubble. Adobe Inc. (ADBE): Michael Burry Maintains Position

Insider Activity

In other news, 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 sale, the chief financial officer owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 755 shares of Adobe 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 sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This represents a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,091 shares of company stock worth $18,782,773 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Adobe Trading Down 0.6%

ADBE opened at $253.37 on Thursday. The firm has a market capitalization of $102.41 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.99 and a beta of 1.42. The firm’s 50 day moving average is $246.25 and its 200-day moving average is $288.44. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $422.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Analysts expect that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe announced that its board has initiated a share repurchase plan on Tuesday, April 21st that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Adobe 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.