Adobe Inc. $ADBE Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC cut its Adobe stake by 20.9% in the fourth quarter, selling 59,773 shares and leaving it with 226,313 shares valued at about $79.2 million.
• Adobe reported better-than-expected quarterly results, with EPS of $6.06 and revenue of $6.40 billion, and it also issued FY2026 guidance above current analyst expectations.
• The company’s board approved a $25 billion stock buyback authorization, while analysts currently rate the stock a consensus Hold with a $338.15 price target.

HighTower Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,313 shares of the software company's stock after selling 59,773 shares during the quarter. HighTower Advisors LLC owned 0.06% of Adobe worth $79,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. Brighton Jones LLC lifted its holdings in Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after acquiring an additional 167 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Adobe by 25.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock worth $926,000 after acquiring an additional 486 shares during the last quarter. United Bank grew its holdings in shares of Adobe by 12.8% in the 2nd quarter. United Bank now owns 3,773 shares of the software company's stock worth $1,460,000 after acquiring an additional 428 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Adobe by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock worth $1,017,000 after acquiring an additional 190 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of Adobe by 190.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock worth $1,069,000 after acquiring an additional 1,813 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ADBE shares. Summit Redstone set a $350.00 target price on Adobe in a report on Friday, April 17th. BTIG Research assumed coverage on shares of Adobe in a report on Monday, April 13th. They issued a "neutral" rating for the company. Argus reiterated a "hold" rating on shares of Adobe in a report on Monday, March 16th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Adobe in a research report on Friday, March 13th. Finally, Weiss Ratings downgraded shares of Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $338.15.

Adobe Stock Down 0.6%

NASDAQ:ADBE opened at $253.37 on Thursday. The firm has a market capitalization of $102.41 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.99 and a beta of 1.42. Adobe Inc. has a 1-year low of $224.13 and a 1-year high of $422.95. 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 business's fifty day moving average price is $246.25 and its 200 day moving average price is $288.44.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the firm earned $5.08 earnings per share. Adobe's quarterly revenue 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. On average, sell-side analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was 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 owned 3,521 shares of the company's stock, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe was highlighted as a favored name by investor Michael Burry, who confirmed he maintained a position in the stock and was also reported to have added to Adobe alongside other beaten-down names. That can boost sentiment because it signals value investors still see upside in the shares. Adobe Inc. (ADBE): Michael Burry Maintains Position
• Positive Sentiment: Adobe also announced a product-related development, bringing professional creative tools into Google Gemini and teasing an upcoming Premiere Android app. Investors may view this as a sign Adobe is expanding its ecosystem and keeping its creative software relevant in AI-driven workflows. Adobe brings professional creative tools straight into Google Gemini; Premiere Android app coming soon
• Positive Sentiment: Some market commentary continued to frame Adobe as a top-ranked growth or software-rebound candidate, which can help support the stock among investors looking for software names with valuation upside. The software rally may still have legs. Buy ServiceNow and Adobe.
• Neutral Sentiment: A court dismissed an amended shareholder lawsuit tied to Adobe’s disclosures around Figma-related competition, but the plaintiff is appealing. That means the legal issue is not fully resolved, keeping governance and litigation risk on investors’ radar. Adobe Lawsuit Appeal Keeps Governance Questions And Value Debate Alive
• Negative Sentiment: DBS Bank downgraded Adobe from “moderate buy” to “hold,” which can weigh on the stock by signaling less near-term upside from current levels. Adobe downgraded by Dbs Bank

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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