Adobe Inc. $ADBE Holdings Trimmed by Truist Financial Corp

Key Points

• Truist trimmed its stake in Adobe by 6.8%, selling 8,938 shares and leaving it with 122,259 shares worth about $42.79 million at period end.
• Adobe's board authorized a $25 billion share buyback, allowing repurchases of up to 24.9% of outstanding shares — a major cash-return move that can boost EPS and signal management thinks the stock is undervalued.
• Adobe beat Q earnings (EPS $6.06 vs. $5.87 est.; revenue $6.40B, +12% YoY) and set FY26 EPS guidance of 23.3–23.5, but analysts' consensus remains a "Hold" with a $338.15 target amid several lowered price targets.

Truist Financial Corp trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,259 shares of the software company's stock after selling 8,938 shares during the period. Truist Financial Corp's holdings in Adobe were worth $42,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Arrowstreet Capital Limited Partnership grew its position in Adobe by 53.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox grew its position in Adobe by 8,006.6% during the 3rd quarter. Dodge & Cox now owns 1,593,506 shares of the software company's stock worth $562,109,000 after purchasing an additional 1,573,849 shares in the last quarter. AQR Capital Management LLC grew its position in Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock worth $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Amundi grew 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 acquiring an additional 742,646 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Adobe by 112.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company's stock valued at $469,467,000 after acquiring an additional 710,357 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ADBE. BTIG Research began coverage on shares of Adobe in a report on Monday, April 13th. They set a "neutral" rating on the stock. Royal Bank Of Canada lowered their price target on shares of Adobe from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Piper Sandler lowered their price target on shares of Adobe from $330.00 to $280.00 and set a "neutral" rating on the stock in a report on Friday, March 13th. Sanford C. Bernstein set a $447.00 price target on shares of Adobe and gave the company an "outperform" rating in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating on the stock in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $338.15.

Adobe Stock Up 0.7%

ADBE stock opened at $255.62 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95. The company has a fifty day simple moving average of $250.30 and a 200 day simple moving average of $296.10. The firm has a market cap of $103.32 billion, a PE ratio of 14.89, a PEG ratio of 0.99 and a beta of 1.42.

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

Adobe declared that its board has authorized a share buyback program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to buy up to 24.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction on Thursday, April 30th. The shares were 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 owned 3,521 shares of the company's stock, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction 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 of the company's stock, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 77,091 shares of company stock valued at $18,782,773. Insiders own 0.20% of the company's stock.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced a $25 billion share buyback; investors view this as management signaling the shares are undervalued, improving EPS and returning cash to shareholders — a clear catalyst supporting the rally. Adobe's $25 Billion Buyback Sends a Clear Signal. Yet Shares Remain Dirt Cheap.
• Positive Sentiment: Adobe finalized the acquisition of Semrush, bolstering its agentic AI and brand-visibility capabilities (SEO, competitive intelligence) that can drive higher-margin services and cross-sell into marketing/business customers. Adobe (ADBE) Finalizes Acquisition of Semrush Holdings to Power Agentic AI Brand Visibility
• Positive Sentiment: Adobe is partnering with Dick’s Sporting Goods to deploy AI “coaches,” showing commercial adoption of Adobe’s AI tools outside core creative suites — a signal of product-market traction and new enterprise use cases. Dick's Partners With Adobe for AI Coaches
• Neutral Sentiment: Media coverage (Zacks, Yahoo) lists ADBE as a “trending” stock; this can boost retail interest and volume but is not a fundamental shift. Adobe Inc. (ADBE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Legislative mention (H.R.8499) references Adobe as a potential software provider for campus training/resources; this is peripheral and unlikely to move fundamentals materially. New Bill: Representative Monica De La Cruz introduces H.R. 8499: Saving Lives on Campuses Act of 2026
• Negative Sentiment: Insiders sold roughly US$19M of ADBE shares over the past year; while common for executives to diversify, such sales can create short-term negative sentiment or be interpreted as reduced insider conviction. Adobe Insiders Sold US$19m Of Shares Suggesting Hesitancy

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.

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