First Merchants Corp Sells 3,519 Shares of Adobe Inc. $ADBE

First Merchants Corp cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 69.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,553 shares of the software company’s stock after selling 3,519 shares during the quarter. First Merchants Corp’s holdings in Adobe were worth $378,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in Adobe in the third quarter valued at approximately $26,000. Western Pacific Wealth Management LP acquired a new stake in Adobe during the 4th quarter valued at approximately $26,000. Caitlin John LLC bought a new position in Adobe during the 3rd quarter worth approximately $28,000. Beacon Financial Strategies CORP bought a new position in Adobe during the 4th quarter worth approximately $28,000. Finally, TrustBank acquired a new position in shares of Adobe in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird lowered their target price on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Citigroup restated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Citizens Jmp reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Finally, Evercore set a $225.00 price target on Adobe and gave the stock an “in-line” rating in a report on Friday, June 12th. Five equities research 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.com, the company has an average rating of “Hold” and an average target price of $278.16.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 77,091 shares of company stock valued at $18,782,773. Corporate insiders own 0.20% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced new agentic AI partnerships at Cannes Lions, including agency, technology, and systems integrator deals aimed at making Adobe the “infrastructure layer” for personalized customer experiences. The company also said it is embedding Creative Agent across Firefly and Creative Cloud, which could improve workflow productivity and deepen product usage. Adobe Accelerates Agentic AI Adoption Through New Agency and Technology Partnerships
• Positive Sentiment: Several commentators highlighted Adobe’s valuation as attractive after the selloff, with value investors and analysts pointing to strong buybacks, solid ARR trends, and what they see as an overly pessimistic view of AI disruption. One analyst also reiterated a Buy rating with a high price target, reinforcing the idea that the stock may be undervalued. Paul Chew Reiterates Buy on Adobe
• Neutral Sentiment: Adobe is expanding its free and freemium AI tools and moving further into commerce media, which could broaden adoption and support longer-term growth, but the market is still waiting to see whether this strategy translates into stronger revenue acceleration. Adobe Opens Its AI Tools For Free And Expands Into Commerce Media
• Negative Sentiment: Adobe continues to face skepticism that its AI shift could pressure pricing and growth, and some coverage noted that the company is still searching for a new CEO while its CFO departs. Citi also cut its price target to $228 from $264, keeping a Neutral rating, which may weigh on sentiment. Citi Cuts PT on Adobe Inc. (ADBE)

Adobe Stock Performance

Shares of ADBE stock opened at $194.90 on Tuesday. The firm has a 50 day moving average of $239.67 and a 200-day moving average of $273.22. The company has a market cap of $77.47 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $392.58.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) 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 the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. Adobe’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous 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, equities analysts forecast that Adobe Inc. will post 19.73 earnings per share for the current year.

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

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.