Citizens Financial Group Inc. RI Invests $8.77 Million in Adobe Inc. $ADBE

Citizens Financial Group Inc. RI purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 42,791 shares of the software company’s stock, valued at approximately $8,773,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. SWAN Capital LLC lifted its position in Adobe by 43.1% in the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after buying an additional 31 shares in the last quarter. Logan Capital Management Inc. grew its holdings in shares of Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after acquiring an additional 32 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in shares of Adobe by 5.8% during the 2nd quarter. Vista Capital Partners Inc. now owns 624 shares of the software company’s stock valued at $241,000 after acquiring an additional 34 shares in the last quarter. Klingman & Associates LLC increased its stake in shares of Adobe by 3.5% in the fourth quarter. Klingman & Associates LLC now owns 1,104 shares of the software company’s stock worth $386,000 after acquiring an additional 37 shares during the last quarter. Finally, Seeds Investor LLC raised its holdings in shares of Adobe by 6.7% during the fourth quarter. Seeds Investor LLC now owns 617 shares of the software company’s stock worth $216,000 after acquiring an additional 39 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADBE. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Sanford C. Bernstein cut their price target on Adobe from $447.00 to $379.00 and set an “outperform” rating for the company in a research note on Friday, June 12th. Wolfe Research lowered Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday, June 12th. Finally, Morgan Stanley cut Adobe from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $365.00 to $240.00 in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $269.81.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 416 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the sale, the chief accounting officer owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks purchased 10,000 shares of the stock in a transaction on Thursday, June 25th. The shares were bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by insiders.

Adobe Trading Down 3.8%

Adobe stock opened at $254.04 on Tuesday. Adobe Inc. has a one year low of $190.12 and a one year high of $370.86. The company’s fifty day moving average price is $228.82 and its two-hundred day moving average price is $245.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $100.98 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.89 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last announced 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 company had revenue of $6.62 billion during 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%.The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous 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. On average, analysts forecast that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.