Adobe Inc. $ADBE Shares Sold by DNB Asset Management AS

Key Points

• DNB Asset Management AS reduced its Adobe stake by 13.6% in the fourth quarter, selling 13,983 shares and leaving it with 88,727 shares valued at about $31.1 million.
• Adobe posted stronger-than-expected quarterly results, with EPS of $6.06 and revenue of $6.40 billion, both topping analyst estimates. The company also raised guidance for FY 2026 and Q2 2026.
• Adobe’s board authorized a massive $25 billion share repurchase program, covering up to 24.9% of outstanding stock, while CEO Shantanu Narayen and other insiders also sold shares recently.

DNB Asset Management AS trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,727 shares of the software company's stock after selling 13,983 shares during the quarter. DNB Asset Management AS's holdings in Adobe were worth $31,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in shares of Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company's stock valued at $316,913,000 after buying an additional 583,275 shares during the period. Willis Investment Counsel boosted its stake in shares of Adobe by 138.9% in the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company's stock valued at $14,250,000 after buying an additional 23,671 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Adobe by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company's stock valued at $38,309,000 after buying an additional 32,448 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Adobe by 112.6% in 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 buying an additional 710,357 shares during the period. Finally, Rakuten Investment Management Inc. purchased a new position in shares of Adobe in the 3rd quarter valued at about $24,904,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

ADBE stock opened at $247.60 on Friday. 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 Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $422.95. The business has a 50 day moving average price of $247.93 and a 200 day moving average price of $290.83. The stock has a market cap of $100.08 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.97 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The company had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the previous year, the business earned $5.08 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Equities research analysts anticipate that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, 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 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 can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer owned 3,521 shares of the company's stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by insiders.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
• Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe's Digital Media Opportunity?
• Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
• Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADBE. Morgan Stanley decreased their price objective on Adobe from $425.00 to $365.00 and set an "equal weight" rating for the company in a research note on Friday, March 13th. KeyCorp decreased their price objective on Adobe from $310.00 to $235.00 and set an "underweight" rating for the company in a research note on Friday, March 13th. Piper Sandler decreased their price objective on Adobe from $330.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday, March 13th. HSBC set a $302.00 price objective on Adobe in a research note on Friday, February 13th. Finally, Royal Bank Of Canada decreased their price objective on Adobe from $400.00 to $350.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of "Hold" and a consensus target price of $338.15.

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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