Adobe Inc. $ADBE Position Cut by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 39.3% during the first quarter, Holdings Channel.com reports. The firm owned 1,163,479 shares of the software company’s stock after selling 754,088 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Adobe were worth $282,818,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hixon Zuercher LLC boosted its stake in Adobe by 39.6% during the first quarter. Hixon Zuercher LLC now owns 12,486 shares of the software company’s stock valued at $3,035,000 after buying an additional 3,543 shares in the last quarter. Cidel Asset Management Inc. raised its position in Adobe by 62.6% in the first quarter. Cidel Asset Management Inc. now owns 2,524 shares of the software company’s stock worth $614,000 after acquiring an additional 972 shares in the last quarter. Kennebec Savings Bank lifted its holdings in Adobe by 11.9% in the 1st quarter. Kennebec Savings Bank now owns 1,475 shares of the software company’s stock valued at $359,000 after acquiring an additional 157 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in Adobe in the 1st quarter valued at about $931,000. Finally, Atlas Brown Inc. bought a new position in shares of Adobe during the 1st quarter valued at about $246,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. UBS Group set a $365.00 target price on shares of Adobe in a report on Friday, June 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Adobe in a report on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus price target of $278.16.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the completion of the sale, the chief financial officer owned 42,833 shares in the company, valued at $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,091 shares of company stock valued at $18,782,773 in the last three months. 0.20% of the stock is currently owned by company insiders.

Adobe Stock Performance

Adobe stock opened at $196.61 on Thursday. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $392.58. The firm’s 50 day simple moving average is $238.24 and its 200-day simple moving average is $271.38. 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 cap of $78.15 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $5.06 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, equities research analysts predict that Adobe Inc. will post 19.8 EPS for the current year.

Adobe declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe Analytics said first-day U.S. online spending for Amazon Prime Day reached $8.3 billion, and it raised its estimate for total four-day retail-event spending to $26.3 billion, up 9% year over year. That supports Adobe’s analytics franchise and reinforces its visibility into consumer commerce trends. Reuters article
• Positive Sentiment: Several commentary pieces argued the recent selloff may be overdone, calling Adobe undervalued or “priced for too much bad news.” One model projected a rebound toward $253 in one quarter and $231 in two quarters, while other analysts highlighted Adobe’s strong cash generation and lower valuation. Benzinga article
• Positive Sentiment: Adobe announced a major expansion of its Creative Agent across Firefly and Creative Cloud, which could help strengthen its AI product lineup and improve customer adoption over time. Yahoo Finance article
• Positive Sentiment: Bearish takeovers of the stock were countered by articles framing Adobe as a “dirt-cheap” tech giant and a potential rebound play after a steep decline, which may be helping limit downside. Motley Fool article
• Neutral Sentiment: Some articles focused on whether Adobe’s freemium strategy and AI transition can reaccelerate growth, but investor skepticism remains high and no clear catalyst has been proven yet. Motley Fool article
• Negative Sentiment: Some analysts warned that margins could deteriorate and that the market is still pricing in substantial AI-related disruption, which keeps pressure on the stock despite its lower valuation. Seeking Alpha article

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.