D.A. Davidson & CO. Has $10.33 Million Holdings in Adobe Inc. $ADBE

D.A. Davidson & CO. lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 43.4% in the first quarter, Holdings Channel reports. The institutional investor owned 42,490 shares of the software company’s stock after selling 32,557 shares during the period. D.A. Davidson & CO.’s holdings in Adobe were worth $10,328,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ADBE. Twin Capital Management Inc. lifted its position in shares of Adobe by 60.1% during the 1st quarter. Twin Capital Management Inc. now owns 9,434 shares of the software company’s stock worth $2,293,000 after buying an additional 3,541 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Adobe by 15.7% in the first quarter. Illinois Municipal Retirement Fund now owns 73,216 shares of the software company’s stock worth $17,797,000 after purchasing an additional 9,931 shares during the period. Robinson Value Management Ltd. raised its stake in Adobe by 74.6% in the first quarter. Robinson Value Management Ltd. now owns 20,830 shares of the software company’s stock valued at $5,063,000 after purchasing an additional 8,897 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Adobe by 15.9% during the first quarter. Geneos Wealth Management Inc. now owns 15,113 shares of the software company’s stock worth $3,674,000 after purchasing an additional 2,076 shares during the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH boosted its stake in shares of Adobe by 18.9% in the 1st quarter. MASTERINVEST Kapitalanlage GmbH now owns 8,730 shares of the software company’s stock valued at $2,122,000 after purchasing an additional 1,388 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research analyst reports. Piper Sandler reduced their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Bank of America reiterated an “underperform” rating and issued a $190.00 price target on shares of Adobe in a research note on Tuesday, July 7th. Phillip Securities downgraded shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wells Fargo & Company dropped their target price on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. cut their price objective on Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $275.00.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Multiple reports highlight Adobe’s attractive valuation, with some investors viewing the selloff as creating a buying opportunity and even raising the possibility that the company could become a takeover target. Is Adobe (ADBE) a Takeover Target? Rumors Are Swirling
• Positive Sentiment: Adobe was compared favorably with Autodesk on revenue trends, with Adobe showing larger scale and consistent quarter-over-quarter growth over the last eight quarters, which supports the case for durable business momentum. Adobe vs. Autodesk: What Revenue Trends Reveal About These Software Stocks
• Positive Sentiment: Several pieces frame Adobe as a potential beneficiary of the market’s reassessment of software stocks, arguing that AI is pressuring recurring-revenue models but that strong companies like Adobe are adapting and may emerge as relative winners. How to Find the Bargains in the Software Stock Wreckage
• Positive Sentiment: Commentary on Adobe’s “compelling valuation” and “generational buying opportunity” suggests investors are increasingly seeing the stock as undervalued despite intensifying competition. Adobe: Compelling Valuation Even Amid Intensifying Competition
• Positive Sentiment: Broader software-sector analysis also points to Adobe as having real competitive moats that AI may not easily replace, reinforcing confidence in the company’s long-term positioning. Alpha Buying: The Real Moats AI Can’t Replace
• Neutral Sentiment: Additional coverage on e-commerce and digital media trends mentions Adobe’s AI-related efforts, including its acquisition of Rephrase.AI, but the article is more about industry innovation than a direct catalyst for the stock. E-Commerce Update – AI Transforming Digital Retail Through Innovation and Connectivity
• Negative Sentiment: One article noted that an open-source browser-based PDF toolkit can replace Adobe Acrobat, highlighting ongoing competitive pressure in one of Adobe’s core product areas. I replaced Adobe Acrobat with a 10x faster, browser-based open-source PDF toolkit

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,091 shares of company stock worth $18,782,773 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Adobe Stock Up 0.8%

Shares of ADBE stock opened at $237.25 on Friday. The stock has a market cap of $94.31 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.79 and a beta of 1.43. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $228.58 and a 200 day moving average of $256.19.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping 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 net margin of 28.69% and a return on equity of 65.11%. Adobe’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $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, sell-side analysts expect that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its board has approved a stock buyback plan on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.