Callahan Advisors LLC Has $7.54 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Callahan Advisors LLC cut its Adobe stake by 22.2% in the fourth quarter, selling 6,140 shares and ending with 21,529 shares valued at about $7.54 million.
• Adobe’s latest quarter topped expectations, with EPS of $6.06 and revenue of $6.40 billion, while the company also issued FY2026 guidance and authorized a $25 billion share buyback.
• Wall Street sentiment remains cautious overall: the consensus rating is “Hold”, and several firms recently cut price targets, even as some analysts maintain bullish ratings.

Callahan Advisors LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,529 shares of the software company's stock after selling 6,140 shares during the period. Callahan Advisors LLC's holdings in Adobe were worth $7,535,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC grew its stake 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 period. Sivia Capital Partners LLC grew 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 grew its stake in Adobe by 12.8% in the second quarter. United Bank now owns 3,773 shares of the software company's stock valued at $1,460,000 after acquiring an additional 428 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of Adobe by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock valued at $1,017,000 after acquiring an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Adobe by 190.6% during the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock valued at $1,069,000 after acquiring an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. BMO Capital Markets decreased their price objective on Adobe from $375.00 to $285.00 and set a "market perform" rating for the company in a report on Friday, March 13th. Argus restated a "hold" rating on shares of Adobe in a report on Monday, March 16th. Sanford C. Bernstein set a $447.00 price objective on Adobe and gave the company an "outperform" rating in a report on Friday, March 13th. The Goldman Sachs Group decreased their price objective on Adobe from $290.00 to $220.00 and set a "sell" rating for the company in a report on Friday, March 13th. Finally, Wells Fargo & Company decreased their price objective on Adobe from $420.00 to $405.00 and set an "overweight" rating for the company in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $338.15.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe was highlighted as a favored name by investor Michael Burry, who confirmed he maintained a position in the stock and was also reported to have added to Adobe alongside other beaten-down names. That can boost sentiment because it signals value investors still see upside in the shares. Adobe Inc. (ADBE): Michael Burry Maintains Position
• Positive Sentiment: Adobe also announced a product-related development, bringing professional creative tools into Google Gemini and teasing an upcoming Premiere Android app. Investors may view this as a sign Adobe is expanding its ecosystem and keeping its creative software relevant in AI-driven workflows. Adobe brings professional creative tools straight into Google Gemini; Premiere Android app coming soon
• Positive Sentiment: Some market commentary continued to frame Adobe as a top-ranked growth or software-rebound candidate, which can help support the stock among investors looking for software names with valuation upside. The software rally may still have legs. Buy ServiceNow and Adobe.
• Neutral Sentiment: A court dismissed an amended shareholder lawsuit tied to Adobe’s disclosures around Figma-related competition, but the plaintiff is appealing. That means the legal issue is not fully resolved, keeping governance and litigation risk on investors’ radar. Adobe Lawsuit Appeal Keeps Governance Questions And Value Debate Alive
• Negative Sentiment: DBS Bank downgraded Adobe from “moderate buy” to “hold,” which can weigh on the stock by signaling less near-term upside from current levels. Adobe downgraded by Dbs Bank

Adobe Stock Down 0.6%

ADBE stock opened at $253.37 on Thursday. Adobe Inc. has a twelve month low of $224.13 and a twelve month high of $422.95. 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 stock's 50 day moving average is $246.25 and its 200-day moving average is $288.44. The firm has a market capitalization of $102.41 billion, a PE ratio of 14.76, a P/E/G ratio of 0.99 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the company earned $5.08 earnings per share. The company's revenue for the quarter was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Sell-side analysts expect that Adobe Inc. will post 19.14 EPS for the current fiscal year.

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

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn sold 1,336 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the completion of the transaction, the chief financial officer owned 42,833 shares in the company, valued at $10,623,440.66. This represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 755 shares of the company's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer owned 3,521 shares of the company's stock, valued at $867,046.25. This trade represents a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by company 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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