Adobe Inc. $ADBE Shares Sold by Tredje AP fonden

Key Points

• Tredje AP fonden cut its Adobe stake by 70.2% in the fourth quarter, selling 80,000 shares and leaving it with 34,000 shares worth about $11.9 million.
• Analyst sentiment on Adobe is mixed: while several firms still have bullish or neutral ratings, the overall consensus remains “Hold” with a target price of $338.15, and some firms have lowered their price targets.
• Adobe reported strong quarterly results, with EPS of $6.06 and revenue of $6.40 billion both beating expectations, and it also announced a $25 billion share repurchase program.

Tredje AP fonden lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 70.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,000 shares of the software company's stock after selling 80,000 shares during the quarter. Tredje AP fonden's holdings in Adobe were worth $11,900,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in Adobe by 53.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares during the last quarter. Dodge & Cox boosted its stake in Adobe by 8,006.6% during the 3rd quarter. Dodge & Cox now owns 1,593,506 shares of the software company's stock worth $562,109,000 after purchasing an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC boosted its stake in Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock worth $912,705,000 after purchasing an additional 920,353 shares during the last quarter. Amundi boosted its stake in Adobe by 17.9% during the 3rd 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Adobe by 112.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company's stock worth $469,467,000 after purchasing an additional 710,357 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating on the stock in a research note on Friday, March 13th. Weiss Ratings lowered Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. Royal Bank Of Canada reduced their price target on Adobe from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Sanford C. Bernstein set a $447.00 price target on Adobe and gave the stock an "outperform" rating in a report on Friday, March 13th. Finally, Citigroup reiterated a "neutral" rating on shares of Adobe in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $338.15.

Adobe Stock Down 0.3%

NASDAQ ADBE opened at $254.99 on Wednesday. The business's fifty day simple moving average is $246.83 and its 200-day simple moving average is $289.04. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $103.07 billion, a PE ratio of 14.85, a P/E/G ratio of 1.00 and a beta of 1.42. Adobe Inc. has a 52 week low of $224.13 and a 52 week high of $422.95.

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 (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 company's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company 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. As a group, equities analysts anticipate that Adobe Inc. will post 19.14 earnings per share for the current year.

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

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Analyst and media commentary has turned constructive, with one report saying the software rally may still have legs and naming Adobe as a buy candidate alongside ServiceNow. This can support demand for the stock as investors rotate back into large-cap software. The software rally may still have legs. Buy ServiceNow and Adobe.
• Positive Sentiment: Multiple reports said Adobe is attracting investor attention and is a top-ranked growth stock on Zacks, which may reinforce the view that the company still has favorable fundamentals and valuation support after a big pullback from its highs. Adobe Systems (ADBE) is a Top-Ranked Growth Stock: Should You Buy?
• Positive Sentiment: Michael Burry was reported to have added Adobe to his portfolio, a notable signal that a high-profile investor sees value in the shares despite broader concerns about an AI bubble. Michael Burry adds PayPal, MercadoLibre, Adobe, Lululemon Athletica
• Neutral Sentiment: Adobe’s stock is still trading far below its 200-day moving average, which suggests the longer-term trend remains weak even after recent stabilization. Investors may see that as a reason for caution.
• Neutral Sentiment: News about a shareholder lawsuit update adds a legal headline, but the article does not indicate any new material development beyond reminding investors that litigation remains an overhang. Investors who lost money with Adobe Inc. NASDAQ: ADBE shares should contact the Shareholders Foundation in connection with Lawsuit
• Negative Sentiment: Michael Burry’s AI bubble warning could weigh on sentiment toward software and AI-related names, since it raises concern that parts of the sector may be overextended even if Adobe itself is not singled out. Michael Burry Invests in MercadoLibre (MELI), Adobe (ADBE), PayPal (PYPL), Lululemon (LULU) — Issues AI Bubble Alert

Insider Buying and Selling

In related news, CFO Daniel Durn sold 1,336 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the sale, the chief financial officer directly owned 42,833 shares of the company's stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 75,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 359,538 shares of the company's stock, valued at $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by insiders.

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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