Fideuram Intesa Sanpaolo Private Banking S.P.A. Cuts Holdings in Adobe Inc. $ADBE

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. cut its Adobe stake by 63.4% in the first quarter, selling 9,333 shares and leaving it with 5,385 shares valued at about $1.31 million.
• Adobe recently reported better-than-expected quarterly results, with EPS of $5.96 and revenue of $6.62 billion, both ahead of analyst estimates. The company also raised guidance for FY 2026 and Q3 2026.
• Management approved a $25 billion share buyback, signaling confidence that the stock may be undervalued. At the same time, analysts remain mixed, with several trimming price targets and the consensus rating still at Hold.

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 63.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,385 shares of the software company's stock after selling 9,333 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Adobe were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock worth $3,588,000 after acquiring an additional 167 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Adobe by 25.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock valued at $926,000 after acquiring an additional 486 shares in the last quarter. United Bank boosted its position in Adobe by 12.8% during the 2nd quarter. United Bank now owns 3,773 shares of the software company's stock worth $1,460,000 after purchasing an additional 428 shares during the period. Schnieders Capital Management LLC. increased its holdings in Adobe by 7.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock valued at $1,017,000 after purchasing an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Adobe by 190.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock valued at $1,069,000 after purchasing an additional 1,813 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Adobe Price Performance

Shares of ADBE stock opened at $219.72 on Friday. The firm has a market cap of $87.34 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $386.60. The firm has a fifty day moving average of $232.91 and a two-hundred day moving average of $265.14.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the prior year, the business posted $5.06 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. 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, research analysts anticipate that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction that occurred on 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 owned 359,538 shares of the company's stock, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Ricks bought 10,000 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This represents a 130.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Adobe in a research report on Friday, March 13th. BMO Capital Markets dropped their target price on Adobe from $285.00 to $230.00 and set a "market perform" rating on the stock in a report on Friday, June 12th. Sanford C. Bernstein reduced their price target on Adobe from $447.00 to $379.00 and set an "outperform" rating on the stock in a research report on Friday, June 12th. Weiss Ratings restated a "sell (d+)" rating on shares of Adobe in a report on Wednesday, June 3rd. Finally, Piper Sandler lowered their price objective on shares of Adobe from $280.00 to $240.00 and set a "neutral" rating for the company in a research report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $278.40.

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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