Legato Capital Management LLC Has $2.84 Million Position in Adobe Inc. $ADBE

Legato Capital Management LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 60.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,127 shares of the software company’s stock after purchasing an additional 3,070 shares during the period. Legato Capital Management LLC’s holdings in Adobe were worth $2,844,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ADBE. Arrowstreet Capital Limited Partnership raised its position in Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox raised its position in Adobe by 8,006.6% in the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock worth $562,109,000 after purchasing an additional 1,573,849 shares in the last quarter. AQR Capital Management LLC raised its position in Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Amundi raised its position in Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after purchasing an additional 742,646 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Adobe by 112.6% in the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were 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 of the company’s stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by insiders.

Adobe Price Performance

Shares of Adobe stock opened at $244.76 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $98.93 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.95 and a beta of 1.42. Adobe Inc. has a 1-year low of $224.13 and a 1-year high of $421.48. The firm’s 50-day moving average price is $245.05 and its two-hundred day moving average price is $287.46.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.87 by $0.19. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, equities analysts predict that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

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

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is getting fresh buzz from its deeper integration with Google Gemini, including the ability for users to access Photoshop and Premiere Pro tools inside the AI assistant. That could expand Adobe’s reach and strengthen demand for its creative software. Article Title
• Positive Sentiment: Articles highlighting Adobe’s Digital Experience business say the company is well positioned to benefit from the digital content boom, with Experience Cloud and AI tools like Firefly and Sensei serving demand in ads and e-commerce. Article Title
• Positive Sentiment: Some market commentary argues Adobe looks inexpensive relative to its growth outlook after the broad software selloff, which may be attracting value-oriented investors. Article Title
• Neutral Sentiment: Additional coverage says Adobe is using agentic AI to defend its software moat, reinforcing the view that management is leaning into AI to support its competitive position. Article Title
• Negative Sentiment: One market recap noted Adobe stock fell in the latest session while the broader market advanced, underscoring continued volatility and investor caution around the name. Article Title
• Negative Sentiment: Governance-related headlines are also adding a small overhang, with renewed attention on trading activity tied to Adobe shares amid existing shareholder litigation. Article Title

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADBE shares. UBS Group dropped their price target on shares of Adobe from $290.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Adobe in a research report on Friday, March 13th. HSBC set a $302.00 price target on shares of Adobe in a research report on Friday, February 13th. KeyCorp dropped their price target on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating for the company in a research report on Friday, March 13th. Finally, Morgan Stanley dropped their price target on shares of Adobe from $425.00 to $365.00 and set an “equal weight” rating for the company in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $338.15.

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.