Fifth Third Bancorp Purchases 47,691 Shares of Adobe Inc. $ADBE

Fifth Third Bancorp raised its position in Adobe Inc. (NASDAQ:ADBE) by 62.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 124,270 shares of the software company’s stock after acquiring an additional 47,691 shares during the period. Fifth Third Bancorp’s holdings in Adobe were worth $30,207,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Adobe by 1.7% in the third quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock valued at $7,277,941,000 after purchasing an additional 352,448 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Adobe by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company’s stock worth $4,027,170,000 after purchasing an additional 414,049 shares during the last quarter. Norges Bank purchased a new position in Adobe during the fourth quarter worth about $2,275,165,000. Arrowstreet Capital Limited Partnership grew its position in Adobe by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,228,503 shares of the software company’s stock worth $2,179,914,000 after purchasing an additional 611,358 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Adobe by 6.2% in the 4th quarter. Invesco Ltd. now owns 5,119,025 shares of the software company’s stock valued at $1,791,607,000 after buying an additional 297,337 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ADBE shares. Evercore set a $225.00 target price on Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. Dbs Bank cut Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Mizuho reduced their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Phillip Securities lowered Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Robert W. Baird lowered their target price on Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Hold” and an average price target of $275.00.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the purchase, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction 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 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 77,091 shares of company stock worth $18,782,773 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $230.61 on Tuesday. The company has a market capitalization of $91.67 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.75 and a beta of 1.43. The business has a fifty day simple moving average of $230.53 and a two-hundred day simple moving average of $258.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $376.16.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the prior year, the firm earned $5.06 EPS. The business’s revenue for the quarter 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 expect that Adobe Inc. will post 19.8 earnings per share for the current year.

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