D.A. Davidson & CO. Sells 32,557 Shares of Adobe Inc. $ADBE

D.A. Davidson & CO. cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 43.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,490 shares of the software company’s stock after selling 32,557 shares during the period. D.A. Davidson & CO.’s holdings in Adobe were worth $10,328,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Willis Investment Counsel raised its stake in Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after buying an additional 23,671 shares in the last quarter. Nicholas Company Inc. raised its stake in Adobe by 7.6% in the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after acquiring an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Adobe by 13.4% in the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after buying an additional 25,435 shares during the period. Wealthfront Advisers LLC boosted its holdings in Adobe by 13.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after buying an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC raised its stake in shares of Adobe by 301.1% during the 4th quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock worth $2,273,000 after buying an additional 4,874 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ADBE shares. Wells Fargo & Company dropped their price objective on Adobe from $330.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 12th. BTIG Research began coverage on shares of Adobe in a research report on Monday, April 13th. They issued a “neutral” rating for the company. KeyCorp dropped their price target on Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, June 12th. Finally, Evercore set a $225.00 price target on shares of Adobe and gave the stock an “in-line” rating in a report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus price target of $275.00.

Adobe Stock Performance

Shares of ADBE stock opened at $237.25 on Friday. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $376.16. The firm has a market capitalization of $94.31 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The business has a 50 day simple moving average of $228.58 and a 200 day simple moving average of $256.19. 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 (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (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 analyst estimates of $6.45 billion. During the same quarter in the previous year, the business posted $5.06 earnings per share. The firm’s quarterly 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, equities research analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe announced that its board has initiated a share buyback plan on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Multiple reports highlight Adobe’s attractive valuation, with some investors viewing the selloff as creating a buying opportunity and even raising the possibility that the company could become a takeover target. Is Adobe (ADBE) a Takeover Target? Rumors Are Swirling
• Positive Sentiment: Adobe was compared favorably with Autodesk on revenue trends, with Adobe showing larger scale and consistent quarter-over-quarter growth over the last eight quarters, which supports the case for durable business momentum. Adobe vs. Autodesk: What Revenue Trends Reveal About These Software Stocks
• Positive Sentiment: Several pieces frame Adobe as a potential beneficiary of the market’s reassessment of software stocks, arguing that AI is pressuring recurring-revenue models but that strong companies like Adobe are adapting and may emerge as relative winners. How to Find the Bargains in the Software Stock Wreckage
• Positive Sentiment: Commentary on Adobe’s “compelling valuation” and “generational buying opportunity” suggests investors are increasingly seeing the stock as undervalued despite intensifying competition. Adobe: Compelling Valuation Even Amid Intensifying Competition
• Positive Sentiment: Broader software-sector analysis also points to Adobe as having real competitive moats that AI may not easily replace, reinforcing confidence in the company’s long-term positioning. Alpha Buying: The Real Moats AI Can’t Replace
• Neutral Sentiment: Additional coverage on e-commerce and digital media trends mentions Adobe’s AI-related efforts, including its acquisition of Rephrase.AI, but the article is more about industry innovation than a direct catalyst for the stock. E-Commerce Update – AI Transforming Digital Retail Through Innovation and Connectivity
• Negative Sentiment: One article noted that an open-source browser-based PDF toolkit can replace Adobe Acrobat, highlighting ongoing competitive pressure in one of Adobe’s core product areas. I replaced Adobe Acrobat with a 10x faster, browser-based open-source PDF toolkit

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. This represents a 3.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 77,091 shares of company stock valued at $18,782,773 in the last ninety days. 0.20% of the stock is owned by corporate insiders.

Adobe Company 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.