Bank of Nova Scotia Has $43.09 Million Stock Holdings in Adobe Inc. $ADBE

Bank of Nova Scotia trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 43.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,266 shares of the software company’s stock after selling 134,495 shares during the quarter. Bank of Nova Scotia’s holdings in Adobe were worth $43,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new position in shares of Adobe during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new position in Adobe during the 3rd quarter worth $26,000. Marquette Asset Management LLC lifted its holdings in Adobe by 72.3% during the 4th quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after buying an additional 34 shares during the period. TrustBank bought a new stake in shares of Adobe in the 4th quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Adobe during the fourth quarter worth about $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $225.11 on Friday. The firm has a market capitalization of $89.48 billion, a PE ratio of 12.88, a P/E/G ratio of 0.71 and a beta of 1.43. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $226.78 and a two-hundred day moving average price of $251.84.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping 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 business 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 posted $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. Equities analysts forecast that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Adobe

In related news, Director David A. Ricks bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought 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 of the company’s stock, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was 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 directly owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADBE. KeyCorp decreased their target price on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research report on Friday, June 12th. CLSA started coverage on shares of Adobe in a research note on Monday. They issued an “outperform” rating and a $300.00 price objective on the stock. Evercore set a $225.00 price objective on shares of Adobe and gave the stock an “in-line” rating in a research report on Friday, June 12th. Sanford C. Bernstein dropped their target price on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a report on Friday, June 12th. Finally, Wolfe Research downgraded Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $271.30.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe (NASDAQ:ADBE) Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

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.