Cetera Investment Advisers Purchases 14,512 Shares of Adobe Inc. $ADBE

Key Points

• Cetera Investment Advisers increased its stake in Adobe by 11.4% in the first quarter, buying 14,512 additional shares and bringing its total holdings to 142,030 shares worth about $34.5 million.
• Adobe has drawn mixed but generally cautious analyst attention: several firms cut price targets, while the overall consensus remains Hold with a target price of about $271.30. CLSA reportedly maintained a Moderate Buy view, helping offset some of the pessimism.
• The company recently beat quarterly expectations, with EPS of $5.96 on $6.62 billion in revenue, and it also authorized a $25 billion share repurchase program. Investors remain focused on AI adoption concerns, which continue to weigh on sentiment.

Cetera Investment Advisers increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,030 shares of the software company's stock after acquiring an additional 14,512 shares during the period. Cetera Investment Advisers' holdings in Adobe were worth $34,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Willis Investment Counsel boosted its position in Adobe by 138.9% during the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company's stock worth $14,250,000 after buying an additional 23,671 shares during the period. Nicholas Company Inc. grew its holdings in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company's stock worth $61,117,000 after acquiring an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas increased its position in Adobe by 13.4% in the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company's stock valued at $75,462,000 after acquiring an additional 25,435 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Adobe by 13.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company's stock valued at $19,312,000 after acquiring an additional 6,426 shares during the last quarter. Finally, True North Advisors LLC lifted its holdings in shares of Adobe by 301.1% during the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company's stock worth $2,273,000 after purchasing an additional 4,874 shares during the period. 81.79% of the stock is owned by institutional investors.

Key Headlines Impacting Adobe

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.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Adobe from $235.00 to $195.00 and set an "underweight" rating on the stock in a research note on Friday, June 12th. Evercore set a $225.00 target price on Adobe and gave the stock an "in-line" rating in a research report on Friday, June 12th. Wells Fargo & Company cut their target price on Adobe from $330.00 to $250.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Morgan Stanley lowered Adobe from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $365.00 to $240.00 in a research report on Tuesday. Finally, Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price target (down from $350.00) on shares of Adobe in a research note on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $271.30.

Adobe Price Performance

Shares of ADBE opened at $225.11 on Friday. The firm has a market cap of $89.48 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16. The business's 50 day moving average price is $226.78 and its two-hundred day moving average price is $251.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75.

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

Adobe declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 755 shares of the company's 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 transaction, the chief accounting officer owned 3,521 shares in the company, valued at approximately $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the transaction, 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 SEC filing for this sale provides additional information. 0.20% of the stock is owned by 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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