The Manufacturers Life Insurance Company Cuts Position in Adobe Inc. $ADBE

The Manufacturers Life Insurance Company trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,613,818 shares of the software company’s stock after selling 9,382 shares during the period. The Manufacturers Life Insurance Company’s holdings in Adobe were worth $392,286,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ADBE. Norges Bank purchased a new stake in shares of Adobe in the 4th quarter valued at $2,275,165,000. AQR Capital Management LLC boosted its holdings in Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after acquiring an additional 920,353 shares during the period. Amundi boosted its holdings in Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after acquiring an additional 742,646 shares during the period. State of Michigan Retirement System grew its position in Adobe by 566.1% in the 1st quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after acquiring an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new position in Adobe in the 1st quarter valued at about $167,494,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 755 shares of the company’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 value of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks purchased 10,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the acquisition, the director directly owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.20% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $237.75 on Tuesday. 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 firm has a fifty day moving average price of $226.42 and a 200 day moving average price of $250.59. The company has a market cap of $94.51 billion, a P/E ratio of 13.60, a PEG ratio of 0.76 and a beta of 1.43. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $376.16.

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, beating analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm 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. Sell-side analysts predict that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. CLSA initiated coverage on shares of Adobe in a report on Monday, July 20th. They issued an “outperform” rating and a $300.00 price objective for the company. Dbs Bank downgraded shares of Adobe from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group reduced their target price on shares of Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $271.30.

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.