Lee Danner & Bass Inc. Sells 2,490 Shares of Adobe Inc. $ADBE

Lee Danner & Bass Inc. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 42.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,385 shares of the software company’s stock after selling 2,490 shares during the period. Lee Danner & Bass Inc.’s holdings in Adobe were worth $823,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SWAN Capital LLC increased its stake 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 acquiring an additional 31 shares during the last quarter. Logan Capital Management Inc. boosted its position 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 during the last quarter. Peoples Bank KS boosted its position in shares of Adobe by 1.6% during the 4th quarter. Peoples Bank KS now owns 2,041 shares of the software company’s stock valued at $714,000 after acquiring an additional 33 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Adobe by 16.1% during the fourth quarter. Rosenberg Matthew Hamilton now owns 245 shares of the software company’s stock worth $86,000 after purchasing an additional 34 shares in the last quarter. Finally, Marquette Asset Management LLC grew its holdings in shares of Adobe by 72.3% during the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADBE shares. UBS Group set a $365.00 target price on shares of Adobe in a research note on Friday, June 12th. Wells Fargo & Company cut their price target on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. KeyCorp decreased their price target on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a report on Friday, June 12th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research report on Friday, June 12th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $278.40.

Adobe Price Performance

Shares of ADBE opened at $219.72 on Monday. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $386.60. 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 stock has a 50 day simple moving average of $232.91 and a two-hundred day simple moving average of $264.53. The firm has a market cap of $87.34 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.77 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping 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 firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm posted $5.06 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. 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 19.8 earnings per share for the current fiscal year.

Adobe announced that its board has authorized a share buyback program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of the transaction, the chief executive officer directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks acquired 10,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the transaction, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% 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.