Adobe Inc. $ADBE Shares Acquired by National Pension Service

Key Points

• National Pension Service boosted its Adobe stake by 13.6% in the fourth quarter, buying 129,647 additional shares and bringing its holdings to 1,081,384 shares worth about $378.5 million.
• Several analysts have turned more cautious on Adobe, with recent rating changes and price-target cuts leaving the stock with a consensus Hold rating and an average target price of $338.15.
• Adobe recently beat quarterly expectations, posting EPS of $6.06 and revenue of $6.40 billion, and its board approved a $25 billion share repurchase program that could retire up to 24.9% of shares.

National Pension Service increased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,081,384 shares of the software company's stock after acquiring an additional 129,647 shares during the period. National Pension Service owned approximately 0.26% of Adobe worth $378,474,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADBE. Brighton Jones LLC boosted its position in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Adobe by 25.5% in the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock worth $926,000 after acquiring an additional 486 shares during the last quarter. United Bank boosted its position in shares of Adobe by 12.8% in the second quarter. United Bank now owns 3,773 shares of the software company's stock worth $1,460,000 after acquiring an additional 428 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Adobe by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock worth $1,017,000 after acquiring an additional 190 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Adobe by 190.6% in the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock worth $1,069,000 after acquiring an additional 1,813 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADBE shares. Argus restated a "hold" rating on shares of Adobe in a report on Monday, March 16th. Mizuho restated a "neutral" rating and issued a $270.00 price target (down from $315.00) on shares of Adobe in a report on Monday, April 27th. Royal Bank Of Canada cut 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. HSBC set a $302.00 price target on shares of Adobe in a report on Friday, February 13th. Finally, Barclays lowered shares of Adobe from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $335.00 to $275.00 in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Adobe currently has an average rating of "Hold" and an average target price of $338.15.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s stock outperformed the broader market in the latest session, suggesting investors are still willing to buy the shares despite recent sector volatility. Adobe Systems (ADBE) Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: Coverage highlighting Adobe as a strong free-cash-flow generator may be supporting the stock by reinforcing its profitability and valuation appeal. Adobe: A Free Cash Flow Machine In Full Gear
• Neutral Sentiment: Adobe Analytics was named a “Champion” in a third-party digital analytics report, which helps validate the product but is unlikely to be a major near-term stock mover on its own. Top Digital Analytics Platforms Named 2026 Champions in Info-Tech Research Group's Data Quadrant Report
• Negative Sentiment: Several recent articles continue to frame Adobe as a software name under pressure from generative AI disruption fears, which may be limiting upside and keeping some investors cautious. Adobe vs. Autodesk: Which Creative Software Stock Is the Better Buy?
• Negative Sentiment: Investor commentary that Adobe has “fallen out of favor” suggests sentiment remains fragile, with AI-related concerns still weighing on the stock’s multiple. Adobe (ADBE) Has Fallen Out of Favor. That Might Be the Opportunity

Adobe Trading Up 1.3%

ADBE opened at $241.44 on Friday. The firm has a market capitalization of $97.59 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.93 and a beta of 1.42. The firm's 50 day moving average is $243.85 and its 200-day moving average is $284.57. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $421.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The business's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. Analysts expect that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe declared that its board has approved a share repurchase program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to reacquire up to 24.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, 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 value of $18,265,500.00. Following the completion of the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Durn sold 1,336 shares of Adobe 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 completion of the sale, the chief financial officer owned 42,833 shares of the company's stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 77,091 shares of company stock worth $18,782,773. Insiders own 0.20% of the company's stock.

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.

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