Kovitz Investment Group Partners LLC Sells 577,081 Shares of Adobe Inc. $ADBE

Kovitz Investment Group Partners LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 97.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,901 shares of the software company’s stock after selling 577,081 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Adobe were worth $4,865,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Western Pacific Wealth Management LP acquired 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 Adobe in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Adobe in the 3rd quarter valued at about $27,000. Caitlin John LLC bought a new position in Adobe in the 3rd quarter valued at about $28,000. Finally, Beacon Financial Strategies CORP bought a new position in Adobe in the 4th quarter valued at about $28,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 0.2%

Shares of ADBE stock opened at $195.64 on Friday. The stock has a market cap of $77.77 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $392.58. The company has a current ratio of 0.75, a quick ratio of 0.91 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $240.37 and a 200 day simple moving average of $274.47.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS 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 return on equity of 65.11% and a net margin of 28.69%.The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter 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, research analysts predict that Adobe Inc. will post 19.73 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to reacquire up to 24.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Argus restated a “hold” rating on shares of Adobe in a report on Monday, March 16th. Jefferies Financial Group dropped their price target on Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a report on Friday, June 12th. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price target (down from $350.00) on shares of Adobe in a research note on Friday, June 12th. Evercore set a $225.00 price target on Adobe and gave the company an “in-line” rating in a research note on Friday, June 12th. Finally, TD Cowen decreased their price objective on Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a report on Monday, June 8th. Five investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $278.16.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe unveiled a major expansion of its Creative Agent and Firefly AI tools across Photoshop, Premiere, Illustrator, InDesign, and Frame.io, which could improve user productivity and support future monetization through deeper AI integration. Article Title
• Positive Sentiment: Adobe also announced an AI skills initiative with LinkedIn, reinforcing its positioning in the growing enterprise AI training and marketing workflow market. Article Title
• Neutral Sentiment: Adobe’s latest quarterly results beat expectations and management issued FY2026 guidance above consensus, but the stock has still lagged as investors question whether growth can reaccelerate enough to justify the valuation.
• Neutral Sentiment: Commentary from Jim Cramer was mixed, with a cautious tone around Adobe’s future because of competition and uncertainty about the company’s longer-term growth path. Article Title
• Negative Sentiment: Freedom Broker downgraded Adobe to Hold from Buy and sharply cut its price target, highlighting concerns that the post-earnings setup is less compelling than before. Article Title
• Negative Sentiment: Separate coverage noted Adobe stock falling alongside other software names amid a broader selloff in subscription software, suggesting the market is rotating away from the group despite solid fundamentals. Article Title

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is owned by corporate insiders.

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.