Caprock Group LLC Sells 5,139 Shares of Adobe Inc. $ADBE

Key Points

• Caprock Group LLC sold 5,139 Adobe shares in Q4, cutting its stake by 23% to 17,166 shares worth about $6.01 million, per its latest Form 13F filing.
• Adobe's board approved a $25 billion share repurchase program through April 2030 (roughly 24.9% of shares), a strong capital-return move signaling management confidence.
• Adobe beat Q results with $6.06 EPS versus $5.87 expected and $6.40B revenue (up 12% YoY), and set FY2026 guidance of 23.30–23.50 EPS; analysts' consensus is a "Hold" with a $339.88 price target.

Caprock Group LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,166 shares of the software company's stock after selling 5,139 shares during the period. Caprock Group LLC's holdings in Adobe were worth $6,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional raised its stake in shares of Adobe by 72.9% in the third quarter. CX Institutional now owns 27,922 shares of the software company's stock valued at $9,849,000 after acquiring an additional 11,769 shares during the last quarter. Wright Investors Service Inc. raised its stake in shares of Adobe by 114.4% in the third quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company's stock valued at $3,499,000 after acquiring an additional 5,293 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Adobe by 185.1% in the third quarter. Federated Hermes Inc. now owns 898,408 shares of the software company's stock valued at $316,913,000 after acquiring an additional 583,275 shares during the last quarter. Willis Investment Counsel raised its stake in shares of Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company's stock valued at $14,250,000 after acquiring an additional 23,671 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Adobe by 43.8% in the third quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company's stock valued at $38,309,000 after acquiring an additional 32,448 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Board greenlights a $25 billion share buyback through April 2030 (roughly 24% of current market cap) — a clear capital‑return move management says shows confidence in cash flow and undervaluation. Adobe Announces New $25 Billion Stock Repurchase Program
• Positive Sentiment: Adobe unveiled CX Enterprise (an agentic AI platform) and multiple partnerships (Amazon, Microsoft, Anthropic, OpenAI, NVIDIA) at Adobe Summit — positioning the company to sell AI into enterprise marketing and CX budgets. Adobe CX Enterprise Pushes AI Agents Deeper Into Customer Experience Budgets
• Positive Sentiment: Positive market and analyst reaction to Summit and partnerships (including public praise from industry leaders) has lifted sentiment — analysts note strong AI innovation and potential revenue upside from enterprise adoption. Adobe Unleashed: Why Nvidia's CEO Says This AI Giant Is the Future of Marketing
• Neutral Sentiment: Adobe plans outcome‑based pricing for its new AI suite — could improve monetization if adoption and measurable outcomes follow, but terms and scale are unclear. Adobe Plans Outcome-Based Pricing for New AI Product Suite
• Neutral Sentiment: Some sell‑side caution remains (e.g., Hold ratings citing valuation and competitive risk) — buyback and product news buoy sentiment but don't erase uncertainty. Adobe: AI Ambition and Buybacks Offset by Competitive Pressures and Valuation, Justifying a Hold Rating
• Negative Sentiment: Competitive pressure is mounting — new tools such as Anthropic’s Claude Design and incumbents like Figma are being highlighted as threats to Adobe’s creative workflow dominance. As Competition Heats Up, Can Figma Recover?
• Negative Sentiment: Insider selling: CFO Daniel Durn disclosed a sale of ~1,336 shares earlier this week — a modest individual sale but one investors watch for signals on insider conviction. SEC Form 4 — Daniel Durn

Adobe Stock Performance

ADBE stock opened at $255.94 on Thursday. 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 company has a 50 day moving average price of $252.69 and a 200 day moving average price of $301.21. Adobe Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $422.95. The stock has a market capitalization of $103.45 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.52.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm had revenue of $6.40 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the previous year, the company posted $5.08 EPS. Adobe's revenue 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. Analysts forecast that Adobe Inc. will post 19.14 EPS for the current year.

Adobe announced that its board has approved 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 reacquire up to 24.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 1,646 shares of the business's stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares in the company, valued at $12,382,225.75. The trade was a 3.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADBE. The Goldman Sachs Group cut their target price on shares of Adobe from $290.00 to $220.00 and set a "sell" rating for the company in a research note on Friday, March 13th. Robert W. Baird set a $350.00 target price on shares of Adobe in a research note on Wednesday, January 14th. Argus reiterated a "hold" rating on shares of Adobe in a research note on Monday, March 16th. Mizuho cut their target price on shares of Adobe from $340.00 to $315.00 and set an "outperform" rating for the company in a research note on Friday, March 13th. Finally, Barclays cut shares of Adobe from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $335.00 to $275.00 in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $339.88.

About Adobe

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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