Westpac Banking Corp Acquires 4,597 Shares of Adobe Inc. $ADBE

Westpac Banking Corp boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,386 shares of the software company’s stock after buying an additional 4,597 shares during the quarter. Westpac Banking Corp’s holdings in Adobe were worth $8,115,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP bought a new stake in shares of Adobe during the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Adobe during the 3rd quarter valued at about $26,000. Beacon Financial Strategies CORP bought a new position in shares of Adobe in the 4th quarter valued at approximately $28,000. Marquette Asset Management LLC raised its stake in shares of Adobe by 72.3% in the 4th quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. Finally, TrustBank acquired a new stake in Adobe in the 4th quarter worth approximately $28,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $227.16 on Wednesday. The company has a market cap of $90.30 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.79 and a beta of 1.43. The business has a 50 day moving average price of $228.08 and a 200 day moving average price of $253.81. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results 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 company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the business posted $5.06 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. 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 predict that Adobe Inc. will post 19.81 earnings per share for the current year.

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

More Adobe News

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Morgan Stanley lowered Adobe to Underweight, saying multiple strategic transitions are happening at once and that AI disruption could make it harder for the company to reaccelerate growth. Adobe stock has been crushed by AI fears. Now Morgan Stanley has cut its rating to underweight
• Negative Sentiment: More Wall Street downgrades and commentary around Adobe’s AI exposure are adding to the selling pressure, with some analysts saying peers may offer cleaner AI monetization and faster growth. ADBE Stock Drops After Morgan Stanley Downgrade – Sees ‘Cleaner Growth And AI Monetization Elsewhere’
• Neutral Sentiment: Adobe continues to push into AI with new features in its experimental Project Indigo camera app, highlighting that it is still investing in product innovation even as investors worry about competitive threats. Adobe crams multiple AI tools into its experimental camera app
• Neutral Sentiment: Some coverage argues Adobe still looks attractive on valuation and that one analyst sees meaningful upside from current levels, but that view is being outweighed today by broader AI-related concern. ADBE stock is falling again but here’s why one Wall Street analyst sees a 31% upside

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the transaction, the chief executive officer owned 359,538 shares of the company’s stock, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction 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 transaction, 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 SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Barclays reduced their price objective on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating for the company in a research note on Friday, June 12th. The Goldman Sachs Group decreased their price objective on shares of Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a report on Friday, June 12th. Finally, Evercore set a $225.00 target price on shares of Adobe and gave the company an “in-line” rating in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $271.30.

About Adobe

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.