Clark Capital Management Group Inc. Increases Stock Position in Adobe Inc. $ADBE

Clark Capital Management Group Inc. boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 48.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,092 shares of the software company’s stock after buying an additional 51,162 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Adobe were worth $54,631,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADBE. Parvin Asset Management LLC lifted its position in shares of Adobe by 261.5% during the fourth quarter. Parvin Asset Management LLC now owns 2,885 shares of the software company’s stock worth $1,010,000 after purchasing an additional 2,087 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Adobe during the fourth quarter worth about $58,000. Captrust Financial Advisors lifted its position in shares of Adobe by 3.2% during the fourth quarter. Captrust Financial Advisors now owns 75,612 shares of the software company’s stock worth $26,464,000 after purchasing an additional 2,319 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Adobe during the fourth quarter worth about $562,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Adobe during the fourth quarter worth about $4,265,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.5%

Shares of NASDAQ:ADBE opened at $207.32 on Wednesday. The firm’s 50 day moving average price is $243.10 and its 200 day moving average price is $276.75. The stock has a market cap of $83.80 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.72 and a beta of 1.42. Adobe Inc. has a fifty-two week low of $196.90 and a fifty-two week high of $399.67. The company has a quick ratio of 0.91, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion for 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 was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $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 predict that Adobe Inc. will post 19.87 earnings per share for the current fiscal year.

Adobe announced that its board has authorized a share repurchase program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to buy up to 24.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $248.02, for a total value of $331,354.72. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,091 shares of company stock valued at $18,782,773 over the last 90 days. 0.20% of the stock is owned by corporate insiders.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, which supports Adobe’s positioning as an AI enabler and could strengthen long-term product adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
• Positive Sentiment: Several articles highlighted Adobe as potentially undervalued after its recent selloff, with some analysts and commentators calling it a buy-the-dip or value opportunity following its strong earnings and raised guidance. Should You Buy, Sell or Hold Adobe Stock Post Q2 Earnings?
• Neutral Sentiment: Market commentary from Barchart and other outlets suggests traders are debating whether the post-earnings weakness is overdone, with options data and technicals still pointing to elevated volatility. Following Adobe Earnings, Here’s What Barchart Data Says Is Next for ADBE Stock
• Neutral Sentiment: TD Cowen cut its price target on Adobe from $310 to $285, citing mixed signals including slower spending trends and weaker AI credit demand, but kept a Hold rating. Adobe (ADBE) Price Target Cut as TD Cowen Flags Slowing Spend and Weak AI Credit Demand
• Negative Sentiment: Adobe’s CFO departure is weighing on sentiment, with investors seeing the leadership change as a risk at a time when the company is already facing valuation and growth concerns. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ADBE shares. Summit Redstone set a $350.00 price target on shares of Adobe in a research report on Friday, April 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. TD Cowen reduced their price target on shares of Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a research report on Monday, June 8th. Wolfe Research cut shares of Adobe from an “outperform” rating to a “peer perform” rating in a research report on Friday. Finally, Royal Bank Of Canada reduced their price target on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus price target of $278.16.

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.