Adobe Inc. $ADBE Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital Management increased its Adobe stake by 112.6% in Q3 to 1,341,410 shares (about 0.32% of the company), worth roughly $469.5 million.
• Adobe expanded its global generative AI partnership with WPP, which could boost enterprise marketing adoption but comes amid analyst concerns about rising AI competition; Adobe’s Q1 FY2026 earnings are scheduled for March 12 and may drive volatility.
• Adobe recently beat quarterly EPS estimates and set FY2026 guidance (23.30–23.50 EPS); the stock has a market cap near $107 billion, a P/E of about 15.6, and mixed analyst coverage with an average price target of $392.76.

Victory Capital Management Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 112.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,341,410 shares of the software company's stock after buying an additional 710,357 shares during the quarter. Victory Capital Management Inc. owned about 0.32% of Adobe worth $469,467,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. LSV Asset Management boosted its position in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company's stock worth $28,000 after purchasing an additional 56 shares during the period. Caitlin John LLC purchased a new position in shares of Adobe during the third quarter worth $28,000. Horizon Financial Services LLC grew its stake in shares of Adobe by 4,000.0% in the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company's stock valued at $32,000 after buying an additional 80 shares in the last quarter. Total Investment Management Inc. purchased a new stake in shares of Adobe in the 2nd quarter valued at $35,000. Finally, Howard Hughes Medical Institute acquired a new position in Adobe during the 2nd quarter worth about $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe and WPP expanded their global AI partnership to integrate Adobe’s generative AI tools with WPP’s agentic marketing platform — a move that could deepen Adobe’s enterprise marketing footprint, boost content-to-campaign workflows and help retain large clients through combined data, privacy and brand-consistency capabilities. Adobe WPP AI Alliance Tests Moat In Enterprise Marketing Workflows
• Positive Sentiment: Adobe has a history of beating estimates and analysts note the company currently has the factors that have supported past upside surprises — this can raise expectations that the March 12 Q1 FY2026 report may again top consensus, which often drives near‑term stock strength. Will Adobe (ADBE) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Adobe scheduled its Q1 FY2026 earnings release for after the close on March 12, with a live investor call to follow — an event that could trigger volatility depending on top-line, margin and AI-related commentary. Adobe to Announce Q1 FY2026 Earnings Results on March 12, 2026
• Neutral Sentiment: Product-level updates such as Adobe promoting Acrobat tax‑prep tools are incremental for consumer engagement and upsell opportunities but are unlikely by themselves to move the stock materially. Treat your tax prep like a professional project with Adobe Acrobat
• Neutral Sentiment: Several market pieces are highlighting software stocks with upside potential and include Adobe in broader analyst/watchlist commentary — useful for sentiment but not an immediate fundamental driver. 4 Software Stocks With 38% to 82% Upside Potential According to Wall Street
• Negative Sentiment: Analysts and commentators flag heightened competition from new AI tools (including agentic and coding AI) that could erode Adobe’s creative-software moat and enable lower‑cost alternatives — a structural risk that may limit valuation multiple expansion and compress investor sentiment. Heightened AI Competition Fuels Analyst Skepticism on Adobe (ADBE)

Adobe Stock Down 0.6%

Shares of NASDAQ ADBE opened at $260.88 on Tuesday. The business has a 50-day moving average of $297.71 and a two-hundred day moving average of $328.09. The company has a market capitalization of $107.09 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Adobe Inc. has a 1 year low of $244.28 and a 1 year high of $453.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.00.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping the consensus estimate of $5.40 by $0.10. The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The business's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of the company's stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent research reports. Citigroup boosted their price target on shares of Adobe from $366.00 to $387.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 17th. Wolfe Research cut their target price on shares of Adobe from $450.00 to $440.00 and set an "outperform" rating on the stock in a research note on Thursday, December 11th. The Goldman Sachs Group assumed coverage on shares of Adobe in a research report on Monday, January 12th. They issued a "sell" rating and a $290.00 price target for the company. Stifel Nicolaus dropped their price target on shares of Adobe from $480.00 to $450.00 and set a "buy" rating for the company in a research note on Tuesday, December 9th. Finally, Wall Street Zen cut Adobe from a "buy" rating to a "hold" rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $392.76.

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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