Thrivent Financial for Lutherans Acquires 32,027 Shares of Adobe Inc. $ADBE

Thrivent Financial for Lutherans raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 86.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,939 shares of the software company’s stock after buying an additional 32,027 shares during the period. Thrivent Financial for Lutherans’ holdings in Adobe were worth $24,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. CX Institutional boosted its position in shares of Adobe by 72.9% in the third quarter. CX Institutional now owns 27,922 shares of the software company’s stock valued at $9,849,000 after acquiring an additional 11,769 shares during the period. Wright Investors Service Inc. lifted its stake in Adobe by 114.4% in the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock worth $3,499,000 after purchasing an additional 5,293 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock valued at $316,913,000 after purchasing an additional 583,275 shares during the period. Lathrop Investment Management Co. grew its position in shares of Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of Adobe in the third quarter worth $24,904,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADBE. Oppenheimer lowered Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 13th. Robert W. Baird set a $350.00 price target on Adobe in a report on Wednesday, January 14th. TD Cowen cut their price objective on Adobe from $420.00 to $400.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Wells Fargo & Company decreased their price objective on shares of Adobe from $470.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Finally, Mizuho lowered their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $391.81.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Semrush shareholders approved the merger agreement with Adobe — the deal (SEO/marketing analytics) is expected to broaden Adobe’s marketing and data capabilities and create cross-sell opportunities for Experience Cloud customers. Semrush Shareholders Approve Merger Agreement with Adobe
• Positive Sentiment: Adobe is offering unlimited generations in its Firefly AI studio through March 16 — a product push that can accelerate user adoption of paid AI workflows and help defend share vs. competitors. Adobe Firefly Unlimited AI Generations
• Positive Sentiment: Some outlets still rate ADBE as a buy with sizable upside in models — this underpins longer-term bullish analyst conviction despite near-term pressure. Adobe Inc. (ADBE) a Moderate Buy, Analysts See 52% Upside
• Neutral Sentiment: Reported short-interest metrics are effectively meaningless/flat in recent tallies (no material change), so short squeezes are not a driver today.
• Neutral Sentiment: Comparisons to new Apple creative tools note competitive dynamics but conclude Apple isn’t yet an Adobe killer — a watch item for market share over time. Apple’s Creator Studio offers value, but is far from an Adobe killer
• Negative Sentiment: Adobe announced it will discontinue Adobe Animate (shutting down March 1), provoking customer backlash — a PR hit and potential churn in niche creator communities that may pressure sentiment. Adobe Animate is shutting down as company focuses on AI
• Negative Sentiment: Multiple firms have cut price targets or downgraded ADBE recently (UBS, Baird, BMO), which weighs on investor sentiment and reduces near-term analyst support. UBS, Baird Lower PT on Adobe (ADBE), BMO Capital Downgrades to Market Perform
• Negative Sentiment: Broader tech weakness and competitive moves (including Apple’s new bundle) have driven ADBE toward technical support/52-week lows as investors await Q1 guidance and execution proof. What’s Going On With Adobe Stock Tuesday?

Adobe Trading Down 7.3%

NASDAQ ADBE opened at $271.93 on Wednesday. The firm has a market cap of $111.63 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51. Adobe Inc. has a 1-year low of $271.02 and a 1-year high of $465.70. The stock has a 50-day moving average of $327.29 and a 200-day moving average of $340.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. During the same period in the previous year, the firm earned $4.81 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the sale, the chief financial officer directly owned 41,995 shares in the company, valued at $12,382,225.75. This represents a 3.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

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.