Abacus FCF Advisors LLC Decreases Position in Adobe Inc. $ADBE

Key Points

• Abacus FCF Advisors LLC cut its Adobe stake by 25.7% in Q4 to 35,592 shares (about 1.6% of the fund) valued at approximately $12.46 million.
• Adobe's board authorized a $25 billion share buyback—allowing repurchase of up to 24.9% of outstanding shares through April 2030—signaling management confidence and a major capital-return plan.
• Adobe beat Q1 estimates with $6.06 EPS and $6.40 billion revenue, and issued FY2026 guidance of 23.30–23.50 EPS (Q2 guidance 5.80–5.85), while analysts' consensus remains a "Hold" with a ~$339.88 average target.

Abacus FCF Advisors LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,592 shares of the software company's stock after selling 12,303 shares during the period. Adobe makes up about 1.6% of Abacus FCF Advisors LLC's portfolio, making the stock its 27th biggest holding. Abacus FCF Advisors LLC's holdings in Adobe were worth $12,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Adobe by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 41,369,395 shares of the software company's stock valued at $14,593,054,000 after purchasing an additional 344,816 shares during the last quarter. State Street Corp lifted its holdings in shares of Adobe by 1.7% during the 3rd 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. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Adobe by 53.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock valued at $1,981,448,000 after purchasing an additional 1,952,994 shares during the last quarter. Amundi lifted its holdings in shares of Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company's stock valued at $1,711,583,000 after purchasing an additional 742,646 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Adobe by 9.4% during the 3rd quarter. Invesco Ltd. now owns 4,821,688 shares of the software company's stock valued at $1,700,850,000 after purchasing an additional 414,526 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE opened at $245.44 on Friday. The business's 50-day moving average is $251.85 and its two-hundred day moving average is $299.71. The company has a market capitalization of $99.21 billion, a P/E ratio of 14.29, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. Adobe Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $422.95.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same period last year, the firm earned $5.08 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Research analysts predict that Adobe Inc. will post 19.14 earnings per share for the current year.

Adobe announced that its board has initiated a stock buyback 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 repurchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the sale, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Oppenheimer restated a "market perform" rating on shares of Adobe in a research note on Friday, March 13th. Robert W. Baird set a $350.00 target price on Adobe in a research note on Wednesday, January 14th. Jefferies Financial Group reduced their target price on Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a research note on Monday, February 23rd. The Goldman Sachs Group reduced their target price on Adobe from $290.00 to $220.00 and set a "sell" rating for the company in a research note on Friday, March 13th. Finally, DA Davidson set a $300.00 target price on Adobe in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $339.88.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Board authorizes a $25 billion share buyback (through April 2030), signaling management confidence and explicit capital return plans that typically support the stock. Adobe Announces New $25 Billion Stock Repurchase Program
• Positive Sentiment: Adobe showcased agentic AI offerings across CX Enterprise, GenStudio, Firefly and Experience Manager at its Summit and highlighted partnerships (NVIDIA, Amazon, Microsoft, Anthropic, OpenAI) that bolster enterprise go‑to‑market credibility. Adobe bets on AI agents
• Positive Sentiment: Analysts and commentators reacted favorably to the Summit and partnerships; JPMorgan reiterated an Overweight view and flagged upside from Adobe’s AI positioning, helping lift sentiment. Adobe Unleashed: Why Nvidia's CEO Says This AI Giant Is the Future of Marketing
• Neutral Sentiment: Adobe plans outcome‑based pricing for new AI products — could improve monetization if outcomes are proven, but adoption, measurement and revenue timing remain uncertain. Adobe Plans Outcome-Based Pricing
• Negative Sentiment: Some sell‑side firms have cut price targets or ratings (Morgan Stanley trimmed its target recently), keeping valuation and competitive concerns on the table. Adobe Is One Of The Stocks That Will Collapse Because Of AI
• Negative Sentiment: Short interest rose in mid‑April to roughly 14.7M shares (~3.7% of shares outstanding) — an increase in bearish positioning that can amplify downward moves if sentiment turns.
• Negative Sentiment: Insider activity: CFO Daniel Durn sold ~1,336 shares this week (disclosed via SEC filing), a small but visible insider sale. SEC Form 4 — Daniel Durn
• Negative Sentiment: Broader enterprise software weakness (after ServiceNow/IBM results) pressured the sector and contributed to an earlier pullback, highlighting macro/earnings‑linked downside risk. ServiceNow and IBM earnings reignite AI fears

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.

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