Keybank National Association OH Sells 4,438 Shares of Adobe Inc. $ADBE

Key Points

• Keybank National Association OH reduced its Adobe stake by 17.1% in Q4, selling 4,438 shares and finishing the period with 21,500 shares valued at $7.525 million.
• Adobe announced a $25 billion stock buyback and reported Q1 results that beat estimates (EPS $6.06 vs. $5.87; revenue $6.40B vs. $6.28B), while providing FY2026 guidance of 23.300–23.500 EPS.
• There has been notable insider selling—CEO Shantanu Narayen sold 75,000 shares (~$18.3M) and CFO Daniel Durn sold 1,336 shares—while analysts remain mixed, with a consensus rating of Hold and an average price target of $338.15.

Keybank National Association OH decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,500 shares of the software company's stock after selling 4,438 shares during the quarter. Keybank National Association OH's holdings in Adobe were worth $7,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Archer Investment Corp lifted its holdings in Adobe by 86.9% during the 4th quarter. Archer Investment Corp now owns 2,329 shares of the software company's stock worth $815,000 after buying an additional 1,083 shares during the period. AMG National Trust Bank increased its stake in shares of Adobe by 158.8% in the fourth quarter. AMG National Trust Bank now owns 3,934 shares of the software company's stock valued at $1,377,000 after buying an additional 2,414 shares during the period. Vest Financial LLC raised its position in shares of Adobe by 17.5% during the fourth quarter. Vest Financial LLC now owns 9,238 shares of the software company's stock worth $3,233,000 after acquiring an additional 1,376 shares during the last quarter. CFC Planning Co LLC acquired a new position in shares of Adobe in the fourth quarter worth approximately $241,000. Finally, GPM Growth Investors Inc. lifted its stake in shares of Adobe by 29.5% in the fourth quarter. GPM Growth Investors Inc. now owns 8,045 shares of the software company's stock worth $2,816,000 after acquiring an additional 1,831 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. Citigroup reaffirmed a "neutral" rating on shares of Adobe in a research note on Friday, April 10th. KeyCorp lowered their target price on shares of Adobe from $310.00 to $235.00 and set an "underweight" rating for the company in a research note on Friday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating on the stock in a report on Friday, March 13th. Piper Sandler cut their price target on shares of Adobe from $330.00 to $280.00 and set a "neutral" rating on the stock in a research report on Friday, March 13th. Finally, Weiss Ratings downgraded Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $338.15.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Recent earnings and guidance beat underpin confidence in growth and margin sustainability; analysts cite the Q1 outperformance as a near‑term catalyst. Why Adobe Systems (ADBE) Outpaced the Stock Market Today
• Positive Sentiment: Management announced a $25 billion share buyback — a significant capital return that supports EPS and signals confidence from the board. Should You Buy Adobe Stock After the Company's $25 Billion Share Repurchase Announcement?
• Positive Sentiment: Product and partnership momentum around AI: Firefly went public and Adobe integrations with Claude/third‑party creative tools expand addressable market and stickiness for Creative Cloud/Enterprise customers. Adobe Firefly AI is now live publicly, hoping you’ll talk to an AI and get work done
• Neutral Sentiment: Trading/strategies commentary highlights elevated option activity and macro positioning; useful for traders but less likely to change fundamentals. Adobe Stock: Transform $200 Risk Into An $800 Return With A Butterfly Trade
• Negative Sentiment: CEO Shantanu Narayen sold 75,000 shares (disclosed Apr. 28) — an executive sale that can spook some investors even if it’s pre‑planned or for diversification. Shantanu Narayen Insider Sale Filing
• Negative Sentiment: Legal risk: an investor lawsuit alleges copyright issues around AI training — potential reputational, regulatory and litigation exposure that could pressure the stock if escalated. Adobe Investor Sues Board Over AI Training Copyright Accusations

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the sale, the chief executive officer directly owned 359,538 shares of the company's stock, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.20% of the company's stock.

Adobe Stock Up 1.0%

Adobe stock opened at $246.10 on Friday. The company has a market capitalization of $99.47 billion, a PE ratio of 14.33, a PEG ratio of 0.95 and a beta of 1.52. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $422.95. The firm's fifty day moving average is $250.36 and its 200 day moving average is $297.20. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating 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 the consensus estimate of $6.28 billion. During the same period in the previous year, the firm posted $5.08 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to purchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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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