Janus Henderson Group PLC Reduces Position in Adobe Inc. $ADBE

Janus Henderson Group PLC trimmed its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 92.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,244 shares of the software company's stock after selling 627,680 shares during the quarter. Janus Henderson Group PLC's holdings in Adobe were worth $12,941,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADBE. Norges Bank acquired a new stake in Adobe in the fourth quarter valued at $2,275,165,000. AQR Capital Management LLC boosted its position in shares of Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock worth $912,705,000 after acquiring an additional 920,353 shares in the last quarter. Amundi boosted its position in shares of Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company's stock worth $1,711,583,000 after acquiring an additional 742,646 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Adobe by 566.1% in the 1st quarter. State of Michigan Retirement System now owns 820,823 shares of the software company's stock valued at $199,526,000 after acquiring an additional 697,600 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of Adobe in the 1st quarter valued at about $167,494,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. Barclays cut their target price on Adobe from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Friday, June 12th. DA Davidson dropped their price target on shares of Adobe from $300.00 to $250.00 and set a "buy" rating on the stock in a research note on Friday, June 12th. Weiss Ratings reissued a "sell (d+)" rating on shares of Adobe in a report on Wednesday, June 3rd. Citizens Jmp reissued a "market perform" rating on shares of Adobe in a report on Friday, June 12th. Finally, HSBC upgraded shares of Adobe from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $282.00 to $308.00 in a research report on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $271.30.

Insider Buying and Selling

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

Adobe Stock Up 2.4%

Adobe stock opened at $257.49 on Wednesday. The company has a market capitalization of $102.35 billion, a P/E ratio of 14.73, a PEG ratio of 0.85 and a beta of 1.40. 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 Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $370.86. The stock has a 50-day simple moving average of $227.16 and a 200-day simple moving average of $247.54.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.82 by $0.14. The firm 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%.The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter 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. Equities research 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 authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to buy up to 24.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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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