Graham Capital Management L.P. Has $10.09 Million Holdings in Adobe Inc. $ADBE

Posted by Linda Flegge on Jun 17th, 2026

Graham Capital Management L.P. lifted its stake in Adobe Inc. (NASDAQ:ADBE – Free Report) by 106.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,824 shares of the software company’s stock after buying an additional 14,876 shares during the period. Graham Capital Management L.P.’s holdings in Adobe were worth $10,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ADBE. Willis Investment Counsel increased its holdings in Adobe by 138.9% during the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock valued at $14,250,000 after purchasing an additional 23,671 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Adobe by 112.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock valued at $469,467,000 after purchasing an additional 710,357 shares in the last quarter. Nicholas Company Inc. increased its holdings in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after purchasing an additional 12,400 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after purchasing an additional 25,435 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after purchasing an additional 6,426 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value 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 trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of the transaction, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 in the last three months. Insiders own 0.20% of the company’s stock.

Adobe Stock Up 0.5%

Shares of ADBE opened at $207.32 on Wednesday. The firm has a market capitalization of $83.80 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.72 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.91 and a current ratio of 0.75. The business’s fifty day moving average price is $243.10 and its two-hundred day moving average price is $276.75. Adobe Inc. has a 52 week low of $196.90 and a 52 week high of $399.67.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts predict that Adobe Inc. will post 19.87 earnings per share for the current year.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADBE shares. BMO Capital Markets dropped 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. Barclays dropped their price target on Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. Argus reiterated a “hold” rating on shares of Adobe in a research report on Monday, March 16th. Finally, Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Five investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $278.16.

Get Our Latest Stock Analysis on Adobe

Key Headlines Impacting 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.

Adobe Profile

(Free Report)

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.