Adobe Inc. $ADBE Shares Sold by Busey Bank

Key Points

• Busey Bank cut its Adobe stake by 65.1% in the first quarter, selling 33,272 shares and leaving it with 17,865 shares valued at about $4.34 million.
• Adobe’s fundamentals were solid in the latest quarter, with EPS of $5.96 and revenue of $6.62 billion, both ahead of analyst expectations and up 12.7% year over year.
• Sentiment around Adobe remains mixed: HSBC upgraded the stock to Buy on AI-related valuation optimism, while other firms trimmed targets or kept Hold ratings amid concerns about slower growth.

Busey Bank lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 65.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,865 shares of the software company's stock after selling 33,272 shares during the quarter. Busey Bank's holdings in Adobe were worth $4,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Norges Bank acquired a new stake in shares of Adobe during the 4th quarter worth about $2,275,165,000. Arrowstreet Capital Limited Partnership boosted its holdings in Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock valued at $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox increased its stake in Adobe by 8,006.6% in the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company's stock valued at $562,109,000 after purchasing an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC increased its stake in Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock valued at $912,705,000 after purchasing an additional 920,353 shares during the last quarter. Finally, Amundi raised 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 purchasing an additional 742,646 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Insider Buying and Selling at Adobe

In other Adobe 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 transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares of the company's stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 77,091 shares of company stock valued at $18,782,773. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ADBE. Barclays reduced their price objective on shares of Adobe from $275.00 to $250.00 and set an "equal weight" rating for the company in a research report on Friday, June 12th. UBS Group set a $365.00 price target on shares of Adobe in a research note on Friday, June 12th. HSBC raised shares of Adobe from a "hold" rating to a "buy" rating and set a $308.00 price target for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Adobe in a research note on Friday, March 13th. Finally, TD Cowen dropped their price objective on Adobe from $310.00 to $285.00 and set a "hold" rating on the stock in a report on Monday, June 8th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of "Hold" and a consensus target price of $278.40.

Adobe Price Performance

ADBE stock opened at $219.72 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $87.34 billion, a P/E ratio of 12.57, a PEG ratio of 0.77 and a beta of 1.43. The business has a 50 day simple moving average of $232.91 and a 200-day simple moving average of $264.53. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $386.60.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts' consensus estimates of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to analysts' expectations of $6.45 billion. During the same period in the previous year, the company posted $5.06 EPS. The company's quarterly revenue 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. As a group, equities analysts anticipate that Adobe Inc. will post 19.8 EPS for the current year.

Adobe declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

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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