Commerzbank Aktiengesellschaft FI Acquires Shares of 49,359 Adobe Inc. $ADBE

Key Points

• Commerzbank Aktiengesellschaft FI acquired 49,359 Adobe shares worth approximately $10.12 million. Institutional investors collectively own 81.79% of Adobe’s outstanding stock.
• Analyst sentiment remains cautious, with seven Buy, 21 Hold, and five Sell ratings; the consensus rating is Hold with a target price of $269.81. Several analysts recently lowered their price targets.
• Adobe exceeded quarterly earnings and revenue expectations, reporting $5.96 in EPS and $6.62 billion in revenue, up 12.7% year over year. The company also authorized a $25 billion stock buyback covering up to 24.9% of outstanding shares.

Commerzbank Aktiengesellschaft FI acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 49,359 shares of the software company's stock, valued at approximately $10,120,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Adobe by 1.7% during the 3rd quarter. State Street Corp now owns 20,632,009 shares of the software company's stock worth $7,277,941,000 after purchasing an additional 352,448 shares during the period. Geode Capital Management LLC raised its position in Adobe by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company's stock worth $4,027,170,000 after purchasing an additional 414,049 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Adobe by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company's stock worth $1,651,066,000 after purchasing an additional 563,772 shares during the last quarter. Norges Bank purchased a new position in shares of Adobe during the fourth quarter valued at approximately $2,275,165,000. Finally, Invesco Ltd. boosted its position in shares of Adobe by 6.2% during the fourth quarter. Invesco Ltd. now owns 5,119,025 shares of the software company's stock valued at $1,791,607,000 after buying an additional 297,337 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Adobe from $270.00 to $230.00 and set a "neutral" rating on the stock in a report on Friday, June 12th. Oppenheimer restated a "market perform" rating on shares of Adobe in a report on Friday, June 12th. DA Davidson cut their price objective on Adobe from $300.00 to $250.00 and set a "buy" rating on the stock in a research report on Friday, June 12th. Phillip Securities downgraded Adobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Citigroup reissued a "market perform" rating on shares of Adobe in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $269.81.

Adobe Stock Down 3.8%

Shares of NASDAQ ADBE opened at $254.04 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $100.98 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.89 and a beta of 1.40. The stock has a 50 day moving average price of $228.82 and a 200 day moving average price of $245.32. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business 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. Sell-side analysts expect that Adobe Inc. will post 19.81 earnings per share for the current year.

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

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David A. Ricks bought 10,000 shares of the company's stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, the director owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.20% of the company's stock.

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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