Bradley Foster & Sargent Inc. CT Sells 42,738 Shares of Adobe Inc. $ADBE

Key Points

• Bradley Foster & Sargent cut its Adobe stake by 77.7% in the first quarter, selling 42,738 shares and retaining 12,271 shares valued at approximately $2.98 million. Institutional investors collectively own 81.79% of Adobe.
• Adobe exceeded quarterly earnings and revenue expectations, reporting $5.96 in EPS and $6.62 billion in revenue, with revenue up 12.7% year over year. The company also authorized a $25 billion share-repurchase program, allowing buybacks of up to 24.9% of outstanding shares.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $271.30; ratings range from Sell to Outperform amid ongoing concerns about AI adoption and Adobe’s future growth.

Bradley Foster & Sargent Inc. CT decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 77.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,271 shares of the software company's stock after selling 42,738 shares during the quarter. Bradley Foster & Sargent Inc. CT's holdings in Adobe were worth $2,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. Bridgewater Advisors Inc. boosted its stake in Adobe by 13.7% during the 1st quarter. Bridgewater Advisors Inc. now owns 3,798 shares of the software company's stock valued at $896,000 after purchasing an additional 459 shares during the last quarter. Galaxy Digital Capital Management GP LLC increased its holdings in Adobe by 95.5% in the 1st quarter. Galaxy Digital Capital Management GP LLC now owns 7,367 shares of the software company's stock worth $1,791,000 after buying an additional 3,599 shares in the last quarter. Renaissance Technologies LLC raised its position in Adobe by 27.6% in the 1st quarter. Renaissance Technologies LLC now owns 925,270 shares of the software company's stock worth $224,915,000 after buying an additional 200,267 shares during the last quarter. Morningstar Investment Management LLC lifted its stake in Adobe by 25.1% during the 1st quarter. Morningstar Investment Management LLC now owns 26,233 shares of the software company's stock valued at $6,377,000 after acquiring an additional 5,265 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in Adobe by 2.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 183,033 shares of the software company's stock valued at $44,492,000 after acquiring an additional 4,714 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. Mizuho reduced their price target on shares of Adobe from $270.00 to $245.00 and set a "neutral" rating for the company in a research note on Friday, June 12th. BTIG Research started coverage on shares of Adobe in a research report on Monday, April 13th. They set a "neutral" rating on the stock. Bank of America restated an "underperform" rating and issued a $190.00 target price on shares of Adobe in a report on Tuesday, July 7th. CLSA started coverage on shares of Adobe in a research report on Monday, July 20th. They issued an "outperform" rating and a $300.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Adobe from $420.00 to $340.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $271.30.

Adobe Stock Performance

Shares of ADBE stock opened at $225.11 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $89.48 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.76 and a beta of 1.43. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $376.16. The firm has a fifty day moving average price of $226.78 and a 200-day moving average price of $251.28.

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

Adobe declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe NASDAQ: ADBE Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

Insider Buying and Selling at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Ricks bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following 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. Insiders own 0.20% of the company's stock.

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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