Amundi Has $1.07 Billion Position in Adobe Inc. $ADBE

Key Points

• Amundi increased its Adobe position by 11% in the second quarter, acquiring 518,362 additional shares and bringing its stake to 5.24 million shares worth approximately $1.07 billion. Institutional investors collectively own 81.79% of Adobe.
• Adobe exceeded quarterly expectations, reporting $5.96 in EPS and $6.62 billion in revenue, up 12.7% year over year. However, analysts remain cautious, with a consensus “Hold” rating and a $278.72 average price target.
• Adobe faces important near-term catalysts and risks, including its September 10 earnings report, AI product expansion and a December CEO transition to Anil Chakravarthy. Investors are watching whether recurring-revenue growth accelerates enough to offset competition from AI-native tools and concerns about leadership turnover.

Amundi grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,242,464 shares of the software company's stock after acquiring an additional 518,362 shares during the period. Amundi owned about 1.32% of Adobe worth $1,074,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. SWAN Capital LLC lifted its position in Adobe by 43.1% during the third quarter. SWAN Capital LLC now owns 103 shares of the software company's stock worth $36,000 after acquiring an additional 31 shares during the last quarter. Logan Capital Management Inc. lifted its holdings in shares of Adobe by 0.3% during the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company's stock worth $3,453,000 after buying an additional 32 shares in the last quarter. Vista Capital Partners Inc. boosted its position in shares of Adobe by 5.8% in the second quarter. Vista Capital Partners Inc. now owns 624 shares of the software company's stock valued at $241,000 after acquiring an additional 34 shares during the period. Murphy & Mullick Capital Management Corp boosted its position in shares of Adobe by 5.1% in the fourth quarter. Murphy & Mullick Capital Management Corp now owns 827 shares of the software company's stock valued at $289,000 after acquiring an additional 40 shares during the period. Finally, Front Street Capital Management Inc. grew its stake in shares of Adobe by 8.2% in the second quarter. Front Street Capital Management Inc. now owns 541 shares of the software company's stock valued at $209,000 after acquiring an additional 41 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADBE. Piper Sandler dropped their price objective on shares of Adobe from $280.00 to $240.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. BMO Capital Markets decreased their target price on shares of Adobe from $285.00 to $230.00 and set a "market perform" rating on the stock in a research report on Friday, June 12th. Weiss Ratings raised shares of Adobe from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, September 1st. Citizens Jmp reiterated a "market perform" rating on shares of Adobe in a research report on Friday, June 12th. Finally, Evercore set a $225.00 price target on Adobe and gave the company an "in-line" rating in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $278.72.

Adobe Stock Performance

Shares of Adobe stock opened at $266.51 on Monday. The company has a 50 day moving average of $249.19 and a 200-day moving average of $245.68. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $370.86. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The company has a market cap of $105.94 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter last year, the business posted $5.06 EPS. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. 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 forecast that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe raised Anil Chakravarthy, president of its Customer Experience Orchestration business and worldwide field operations, to president and CEO effective December 1. Chakravarthy has overseen several AI products, while longtime CEO Shantanu Narayen will become executive chair, potentially supporting continuity as Adobe accelerates its AI strategy. Adobe Announces CEO Transition
• Positive Sentiment: RBC raised its price target to $315 from $285 and maintained an Outperform rating ahead of Adobe’s fiscal third-quarter results, citing the potential for annual recurring revenue to exceed expectations. Adobe reports on September 10, making recurring-revenue growth a key near-term catalyst. RBC Raises Adobe Price Target
• Positive Sentiment: Adobe expanded its AI and marketing ecosystem by acquiring Indian startup Rilo and integrating more than 70 creative tools—including Photoshop, Firefly and Acrobat—into Slack. These initiatives could improve workflow integration and strengthen enterprise adoption. Adobe Launches Slack App
• Neutral Sentiment: Analysts remain divided ahead of earnings: some see valuation upside if ARR reaccelerates, while others maintain Hold ratings because Adobe must demonstrate that its AI investments can revive growth and support a higher multiple.
• Negative Sentiment: The CEO announcement surprised investors because it came shortly before earnings and selected Chakravarthy rather than another business leader some investors reportedly expected. Reports also pointed to a separate executive departure, raising concerns about further leadership turnover. Why Adobe Stock Is Dropping
• Negative Sentiment: Adobe continues to face fears that AI-native rivals and new tools from major technology companies could pressure its creative-software franchise, user growth and pricing power. Stronger employment data also increased expectations for a hawkish Federal Reserve, weighing on software and other growth stocks broadly. U.S. Stocks End Lower

Insider Activity

In other news, CAO Jillian Forusz sold 416 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares of the company's stock, valued at approximately $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Ricks purchased 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the purchase, the director owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by insiders.

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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