Lazard Freres Gestion S.A.S. Trims Stock Position in Adobe Inc. $ADBE

Key Points

• Lazard Freres Gestion S.A.S. reduced its Adobe stake by 6.1% in the fourth quarter, selling 4,924 shares and ending with 75,782 shares valued at about $26.5 million.
• Adobe also saw notable insider selling, including CEO Shantanu Narayen’s sale of 75,000 shares and CAO Jillian Forusz’s sale of 755 shares, with insiders selling 77,091 shares total last quarter.
• The company recently authorized a $25 billion share buyback, while analysts currently maintain a consensus Hold rating and an average price target of $338.15 despite mixed sentiment and recent price weakness.

Lazard Freres Gestion S.A.S. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,782 shares of the software company's stock after selling 4,924 shares during the quarter. Lazard Freres Gestion S.A.S.'s holdings in Adobe were worth $26,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. MCF Advisors LLC lifted its position in Adobe by 20.8% during the third quarter. MCF Advisors LLC now owns 174 shares of the software company's stock worth $61,000 after buying an additional 30 shares during the period. SWAN Capital LLC raised its holdings in shares of Adobe by 43.1% in the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company's stock worth $36,000 after purchasing an additional 31 shares during the period. Logan Capital Management Inc. raised its holdings in shares of Adobe by 0.3% in the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company's stock worth $3,453,000 after purchasing an additional 32 shares during the period. Andina Capital Management LLC raised its holdings in shares of Adobe by 6.0% in the 3rd quarter. Andina Capital Management LLC now owns 583 shares of the software company's stock worth $206,000 after purchasing an additional 33 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Adobe by 33.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the software company's stock worth $47,000 after purchasing an additional 33 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 value of $18,265,500.00. Following the completion of the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer owned 3,521 shares of the company's stock, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Analyst and media commentary has turned constructive, with one report saying the software rally may still have legs and naming Adobe as a buy candidate alongside ServiceNow. This can support demand for the stock as investors rotate back into large-cap software. The software rally may still have legs. Buy ServiceNow and Adobe.
• Positive Sentiment: Multiple reports said Adobe is attracting investor attention and is a top-ranked growth stock on Zacks, which may reinforce the view that the company still has favorable fundamentals and valuation support after a big pullback from its highs. Adobe Systems (ADBE) is a Top-Ranked Growth Stock: Should You Buy?
• Positive Sentiment: Michael Burry was reported to have added Adobe to his portfolio, a notable signal that a high-profile investor sees value in the shares despite broader concerns about an AI bubble. Michael Burry adds PayPal, MercadoLibre, Adobe, Lululemon Athletica
• Neutral Sentiment: Adobe’s stock is still trading far below its 200-day moving average, which suggests the longer-term trend remains weak even after recent stabilization. Investors may see that as a reason for caution.
• Neutral Sentiment: News about a shareholder lawsuit update adds a legal headline, but the article does not indicate any new material development beyond reminding investors that litigation remains an overhang. Investors who lost money with Adobe Inc. NASDAQ: ADBE shares should contact the Shareholders Foundation in connection with Lawsuit
• Negative Sentiment: Michael Burry’s AI bubble warning could weigh on sentiment toward software and AI-related names, since it raises concern that parts of the sector may be overextended even if Adobe itself is not singled out. Michael Burry Invests in MercadoLibre (MELI), Adobe (ADBE), PayPal (PYPL), Lululemon (LULU) — Issues AI Bubble Alert

Adobe Price Performance

ADBE stock opened at $254.99 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95. The firm has a market cap of $103.07 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 1.00 and a beta of 1.42. The stock has a 50-day simple moving average of $246.83 and a 200-day simple moving average of $289.04.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm earned $5.08 earnings per share. The company's revenue for the quarter 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. On average, equities analysts predict that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. Royal Bank Of Canada cut their price objective on Adobe from $400.00 to $350.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Morgan Stanley cut their price objective on Adobe from $425.00 to $365.00 and set an "equal weight" rating on the stock in a report on Friday, March 13th. Oppenheimer restated a "market perform" rating on shares of Adobe in a report on Friday, March 13th. Jefferies Financial Group cut their price objective on Adobe from $400.00 to $290.00 and set a "hold" rating on the stock in a report on Monday, February 23rd. Finally, Argus restated a "hold" rating on shares of Adobe in a report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $338.15.

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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