Beese Fulmer Investment Management Inc. Sells 22,286 Shares of Adobe Inc. $ADBE

Key Points

• Beese Fulmer Investment Management cut its Adobe stake by 95.2% in the fourth quarter, selling 22,286 shares and leaving it with 1,133 shares valued at about $397,000.
• Adobe insiders were also selling: CEO Shantanu Narayen sold 75,000 shares and CAO Jillian Forusz sold 755 shares, with insiders disposing of 77,091 shares worth about $18.8 million over the last 90 days.
• Analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average target price of $338.15, even as Adobe reported quarterly earnings and announced a $25 billion share buyback authorization.

Beese Fulmer Investment Management Inc. lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 95.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,133 shares of the software company's stock after selling 22,286 shares during the quarter. Beese Fulmer Investment Management Inc.'s holdings in Adobe were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Beacon Financial Advisory LLC grew its stake in shares of Adobe by 5.5% during the third quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company's stock worth $204,000 after buying an additional 30 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Adobe by 20.8% in the third quarter. MCF Advisors LLC now owns 174 shares of the software company's stock worth $61,000 after purchasing an additional 30 shares during the last quarter. SWAN Capital LLC grew its stake in shares of Adobe by 43.1% in the third quarter. SWAN Capital LLC now owns 103 shares of the software company's stock worth $36,000 after purchasing an additional 31 shares during the last quarter. Logan Capital Management Inc. grew its stake in shares of Adobe by 0.3% in the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company's stock worth $3,453,000 after purchasing an additional 32 shares during the last quarter. Finally, Andina Capital Management LLC grew its stake in shares of Adobe by 6.0% in the third quarter. Andina Capital Management LLC now owns 583 shares of the software company's stock worth $206,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated 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 approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The shares were 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. This trade represents a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADBE shares. Wall Street Zen cut shares of Adobe from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. BMO Capital Markets reduced their price objective on shares of Adobe from $375.00 to $285.00 and set a "market perform" rating on the stock in a research note on Friday, March 13th. Summit Redstone set a $350.00 price objective on shares of Adobe in a research note on Friday, April 17th. UBS Group reduced their price objective on shares of Adobe from $290.00 to $260.00 and set a "neutral" rating on the stock in a research note on Friday, April 17th. Finally, Royal Bank Of Canada reduced their price objective on shares of Adobe from $400.00 to $350.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $338.15.

Adobe Stock Up 3.2%

Shares of NASDAQ:ADBE opened at $255.64 on Tuesday. The company has a market capitalization of $103.33 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.97 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The business's 50-day moving average is $247.40 and its 200-day moving average is $289.63. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $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. Equities research analysts predict that Adobe Inc. will post 19.14 earnings per share for the current year.

Adobe declared that its board has authorized a share buyback plan on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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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