Adobe Inc. $ADBE is Evergreen Private Wealth LLC's 4th Largest Position

Key Points

• Evergreen Private Wealth LLC boosted its stake in Adobe by 32.4% in Q4 to 24,903 shares (worth $8.72M), making Adobe about 3.4% of the fund’s holdings and its 4th-largest position.
• Adobe beat Q1 revenue and EPS estimates, raised FY‑26 guidance (23.30–23.50 EPS), and its board approved a $25 billion share repurchase program (up to 24.9% of shares), signaling strong cash flow and confidence from management.
• Institutional ownership is high at 81.8% and analysts show mixed views (consensus "Hold," average target $339.88), while Adobe’s new AI products and partnerships could drive growth but face rising competitive risk.

Evergreen Private Wealth LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,903 shares of the software company's stock after buying an additional 6,097 shares during the period. Adobe comprises about 3.4% of Evergreen Private Wealth LLC's holdings, making the stock its 4th biggest position. Evergreen Private Wealth LLC's holdings in Adobe were worth $8,716,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ADBE. Arrowstreet Capital Limited Partnership increased its holdings in Adobe by 53.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock worth $1,981,448,000 after buying an additional 1,952,994 shares during the last quarter. Dodge & Cox increased its holdings in Adobe by 8,006.6% during the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company's stock worth $562,109,000 after buying an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC increased its holdings in Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock worth $912,705,000 after buying an additional 920,353 shares during the last quarter. Amundi increased its holdings in Adobe by 17.9% during the third quarter. Amundi now owns 4,888,283 shares of the software company's stock worth $1,711,583,000 after buying an additional 742,646 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Adobe by 112.6% in the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company's stock worth $469,467,000 after purchasing an additional 710,357 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $255.94 on Thursday. The company has a 50 day moving average of $252.69 and a 200 day moving average of $301.21. The stock has a market cap of $103.45 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.96 and a beta of 1.52. Adobe Inc. has a 12 month low of $224.13 and a 12 month high of $422.95. 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 (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. Adobe's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 19.14 EPS for the current fiscal 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 buy up to 24.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 1,646 shares of the business's stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares of the company's stock, valued at approximately $12,382,225.75. The trade was a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Adobe from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Weiss Ratings downgraded shares of Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. Barclays downgraded shares of Adobe from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $335.00 to $275.00 in a research note on Friday, March 13th. Piper Sandler reduced their target price on shares of Adobe from $330.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday, March 13th. Finally, Summit Redstone set a $350.00 target price on shares of Adobe in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Adobe has a consensus rating of "Hold" and an average price target of $339.88.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Board approved a massive $25 billion share repurchase authorization (through Apr 2030) — a large vote of confidence that can reduce share count and support per‑share metrics. Adobe Announces New $25 Billion Stock Repurchase Program
• Positive Sentiment: Adobe unveiled an agentic AI suite (CX Enterprise, GenStudio, Firefly enhancements, Experience Manager integrations) and multiple industry partnerships aimed at selling AI into marketing and CX budgets — a potential new enterprise revenue stream. Adobe CX Enterprise Pushes AI Agents Deeper Into Customer Experience Budgets
• Positive Sentiment: High‑profile industry support and positive analyst commentary (including public praise from NVIDIA’s CEO) have amplified sentiment that Adobe’s AI initiatives could translate into material commercial momentum. Adobe Unleashed: Why Nvidia's CEO Says This AI Giant Is the Future of Marketing
• Positive Sentiment: Recent quarterly results showed a revenue and EPS beat, and management set FY26 guidance consistent with durable cash flow — details that support the buyback thesis. Adobe Q1 Results & Guidance
• Neutral Sentiment: Adobe plans outcome‑based pricing for parts of its AI suite — could boost monetization if clients see measurable ROI, but execution and scale are still uncertain. Adobe Plans Outcome-Based Pricing for New AI Product Suite
• Neutral Sentiment: Some sell‑side analysts remain cautious (Hold/neutral ratings) citing valuation and competitive risk — buyback/product news improve sentiment but don’t eliminate uncertainty. Analyst: AI Ambition and Buybacks Offset by Competitive Pressures
• Negative Sentiment: Competitive pressure is intensifying — new agentic design tools (e.g., Anthropic’s Claude Design) and strong incumbents (Figma) could compress Adobe’s creative workflow franchise and slow adoption or pricing power. As Competition Heats Up, Can Figma Recover?
• Negative Sentiment: Insider selling: CFO Daniel Durn disclosed a modest sale (~1,336 shares) this week — not large relative to total holdings but noted by some investors as a signal to monitor. SEC Form 4 — Daniel Durn

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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