Adobe Inc. $ADBE Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management cut its Adobe stake by 6.4% in the fourth quarter, selling 272,625 shares and leaving it with 3,961,853 shares worth about $1.39 billion.
• Adobe insiders also sold shares, including CEO Shantanu Narayen and CAO Jillian Forusz; insiders sold 77,091 shares total last quarter, while corporate insiders own just 0.20% of the stock.
• Analysts remain cautious overall, with Adobe carrying a consensus “Hold” rating and an average price target of $338.15, even as the company recently beat earnings expectations and announced a $25 billion buyback program.

Fisher Asset Management LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,961,853 shares of the software company's stock after selling 272,625 shares during the period. Fisher Asset Management LLC owned about 0.97% of Adobe worth $1,386,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. MCF Advisors LLC raised its position in shares of Adobe by 20.8% during the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company's stock valued at $61,000 after acquiring an additional 30 shares in the last quarter. SWAN Capital LLC raised its position in shares of Adobe by 43.1% during the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company's stock valued at $36,000 after acquiring an additional 31 shares in the last quarter. Logan Capital Management Inc. raised its position in shares of Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company's stock valued at $3,453,000 after acquiring an additional 32 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Adobe by 33.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the software company's stock valued at $47,000 after acquiring an additional 33 shares in the last quarter. Finally, Peoples Bank KS raised its position in shares of Adobe by 1.6% during the 4th quarter. Peoples Bank KS now owns 2,041 shares of the software company's stock valued at $714,000 after acquiring an additional 33 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 359,538 shares of the company's stock, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADBE shares. BTIG Research started coverage on Adobe in a research report on Monday, April 13th. They set a "neutral" rating on the stock. KeyCorp dropped their price target on Adobe from $310.00 to $235.00 and set an "underweight" rating on the stock in a research report on Friday, March 13th. UBS Group dropped their price target on Adobe from $290.00 to $260.00 and set a "neutral" rating on the stock in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Adobe in a research note on Friday, March 13th. Finally, Royal Bank Of Canada lowered 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 analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $338.15.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is getting fresh buzz from its deeper integration with Google Gemini, including the ability for users to access Photoshop and Premiere Pro tools inside the AI assistant. That could expand Adobe’s reach and strengthen demand for its creative software. Article Title
• Positive Sentiment: Articles highlighting Adobe’s Digital Experience business say the company is well positioned to benefit from the digital content boom, with Experience Cloud and AI tools like Firefly and Sensei serving demand in ads and e-commerce. Article Title
• Positive Sentiment: Some market commentary argues Adobe looks inexpensive relative to its growth outlook after the broad software selloff, which may be attracting value-oriented investors. Article Title
• Neutral Sentiment: Additional coverage says Adobe is using agentic AI to defend its software moat, reinforcing the view that management is leaning into AI to support its competitive position. Article Title
• Negative Sentiment: One market recap noted Adobe stock fell in the latest session while the broader market advanced, underscoring continued volatility and investor caution around the name. Article Title
• Negative Sentiment: Governance-related headlines are also adding a small overhang, with renewed attention on trading activity tied to Adobe shares amid existing shareholder litigation. Article Title

Adobe Price Performance

Shares of ADBE opened at $244.76 on Monday. The company has a market cap of $98.93 billion, a P/E ratio of 14.26, a PEG ratio of 0.95 and a beta of 1.42. The stock has a fifty day moving average price of $245.05 and a 200 day moving average price of $287.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. Adobe Inc. has a 12 month low of $224.13 and a 12 month high of $421.48.

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

Adobe declared that its board has initiated a stock buyback program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board 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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