Adobe Inc. $ADBE Shares Sold by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management reduced its Adobe stake by 18.6% in the first quarter, selling 26,569 shares and leaving it with 115,961 shares valued at about $28.2 million.
• Adobe recently posted better-than-expected earnings, with Q2 EPS of $5.96 and revenue of $6.62 billion, and it also raised guidance for fiscal 2026.
• The company is leaning harder into AI growth, highlighted by the launch of Firefly Foundry, even as some analysts have turned more cautious and Phillip Securities downgraded the stock to hold.

iA Global Asset Management Inc. cut its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,961 shares of the software company's stock after selling 26,569 shares during the quarter. iA Global Asset Management Inc.'s holdings in Adobe were worth $28,188,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after purchasing an additional 167 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Adobe by 25.5% during the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock worth $926,000 after purchasing an additional 486 shares during the period. United Bank boosted its holdings in Adobe by 12.8% in the 2nd quarter. United Bank now owns 3,773 shares of the software company's stock valued at $1,460,000 after purchasing an additional 428 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Adobe by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock valued at $1,017,000 after purchasing an additional 190 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake 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 valued at $1,069,000 after buying an additional 1,813 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe launched Firefly Foundry, a new platform for enterprises to build custom generative AI models using approved brand assets and visual standards, reinforcing the company’s AI strategy and creating a potential new revenue driver. Adobe (ADBE) Launches Firefly Foundry to Enable Enterprise Custom AI Model Development
• Positive Sentiment: Several articles argue Adobe may be undervalued after its sharp selloff, with analysts and commentators pointing to strong fundamentals, a solid business model, and improving sentiment around the stock. Adobe: A Strong Business Model That Delivers - A Value Equation Deep Dive
• Positive Sentiment: Adobe’s addition to several Russell value and defensive benchmarks, along with a raised full-year outlook and broader AI upgrades across its product suite, is supporting the investment case. Adobe’s Agentic AI Push and Russell Index Shift Might Change The Case For Investing In Adobe (ADBE)
• Neutral Sentiment: Adobe continues to be one of the most watched software names, with traders focusing on whether the recent reset in valuation makes the stock attractive after its steep decline this year. Adobe Inc. (ADBE) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Phillip Securities downgraded Adobe from strong-buy to hold, which can weigh on sentiment by signaling less upside from current levels. Adobe downgraded by Phillip Securities
• Negative Sentiment: Some market commentary still highlights investor concern that AI competition could pressure long-term software growth, helping explain why Adobe’s shares have been under heavy pressure despite recent product wins. Are NOW, CRM, WDAY, and ADBE stocks bargains after their valuation reset?

Adobe Stock Performance

Shares of ADBE stock opened at $205.02 on Wednesday. The firm's 50 day moving average price is $234.94 and its 200-day moving average price is $267.40. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. Adobe Inc. has a one year low of $190.12 and a one year high of $392.58. The firm has a market cap of $81.50 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.72 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.06 EPS. 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 research analysts predict that Adobe Inc. will post 19.8 EPS for the current year.

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

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 359,538 shares of the company's stock, valued at approximately $87,561,884.52. This represents a 17.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 77,091 shares of company stock valued at $18,782,773. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Summit Redstone set a $350.00 price target on shares of Adobe in a report on Friday, April 17th. Citizens Jmp reiterated a "market perform" rating on shares of Adobe in a research report on Friday, June 12th. JPMorgan Chase & Co. cut their target price on Adobe from $420.00 to $340.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. TD Cowen reduced their target price on Adobe from $310.00 to $285.00 and set a "hold" rating on the stock in a research report on Monday, June 8th. Finally, Barclays decreased their price target on Adobe from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Adobe presently has an average rating of "Hold" and a consensus target price of $278.16.

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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