Adobe Inc. $ADBE Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden reduced its Adobe stake by 17.1% in the fourth quarter, selling 24,379 shares and leaving it with 118,440 shares valued at about $41.45 million.
• Adobe reported strong Q2 results, with revenue of $6.62 billion and EPS of $5.96, both above expectations, and raised its FY2026 guidance for revenue and earnings.
• The company’s shares were under pressure amid leadership turnover and mixed sentiment, including CFO Daniel Durn’s planned departure and CEO Shantanu Narayen’s insider sale, even as Adobe continues a $25 billion buyback program.

Andra AP fonden cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 118,440 shares of the software company's stock after selling 24,379 shares during the period. Andra AP fonden's holdings in Adobe were worth $41,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Willis Investment Counsel boosted its stake in Adobe by 138.9% during the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company's stock valued at $14,250,000 after purchasing an additional 23,671 shares during the period. Victory Capital Management Inc. boosted its stake in 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 purchasing an additional 710,357 shares during the period. Nicholas Company Inc. boosted its stake in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company's stock valued at $61,117,000 after purchasing an additional 12,400 shares during the period. Teacher Retirement System of Texas boosted its stake in Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company's stock valued at $75,462,000 after purchasing an additional 25,435 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company's stock valued at $19,312,000 after purchasing an additional 6,426 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Down 6.5%

ADBE stock opened at $218.24 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average is $245.29 and its two-hundred day moving average is $279.13. Adobe Inc. has a 52 week low of $218.09 and a 52 week high of $416.39. The company has a market capitalization of $88.21 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.91 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts' consensus estimates of $5.82 by $0.14. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the firm earned $5.06 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe announced that its board has approved a share repurchase program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe reported record Q2 revenue of $6.62 billion and EPS of $5.96, both above Wall Street estimates, showing the core business is still beating expectations. Adobe Reports Record Q2 Results
• Positive Sentiment: The company raised its FY2026 outlook, guiding revenue to $26.5 billion-$26.6 billion and EPS to $24.35-$24.45, both above analyst consensus, which suggests management sees continued momentum ahead. Adobe raises annual revenue forecast, CFO to exit
• Neutral Sentiment: Adobe also said AI-driven demand and higher subscription spending helped drive results, reinforcing that its AI products are contributing to growth, though investors still want clearer proof this will last. Adobe posts record Q2 revenue and raises 2026 outlook
• Negative Sentiment: Shares are being weighed down by another senior departure, with CFO Dan Durn set to leave for Marvell, adding to concerns about leadership instability while Adobe is also searching for a new CEO. Adobe is losing another top executive, and investors don't like it
• Negative Sentiment: Investors remain skeptical that Adobe’s AI push will translate into sustained growth, and that uncertainty has kept pressure on the stock even after the earnings beat. Adobe Stock Sinks to Multi-Year Low Ahead of Earnings

Insider Buying and Selling

In related news, CFO Daniel Durn sold 1,336 shares of the business's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $248.02, for a total value 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. The trade was a 3.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was 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 owned 359,538 shares in the company, valued at $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADBE shares. BMO Capital Markets dropped their price target on shares of Adobe from $375.00 to $285.00 and set a "market perform" rating on the stock in a research report on Friday, March 13th. Jefferies Financial Group dropped their price target on shares of Adobe from $400.00 to $290.00 and set a "hold" rating on the stock in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Adobe from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Sanford C. Bernstein set a $447.00 price target on shares of Adobe and gave the stock an "outperform" rating in a research report on Friday, March 13th. Finally, Wells Fargo & Company dropped their price target on shares of Adobe from $420.00 to $405.00 and set an "overweight" rating on the stock in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $331.65.

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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