Lockheed Martin Investment Management Co. Has $10.73 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Lockheed Martin Investment Management increased its Adobe stake by 65.1% in the fourth quarter, ending with 30,650 shares valued at about $10.73 million.
• Adobe executives have recently sold stock, including CFO Daniel Durn and CEO Shantanu Narayen, with insiders selling 77,091 shares worth about $18.8 million over the last 90 days.
• Adobe reported stronger-than-expected quarterly results and launched a $25 billion share buyback program, even as analysts remain mixed and the stock currently carries a Hold consensus rating.

Lockheed Martin Investment Management Co. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 65.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,650 shares of the software company's stock after buying an additional 12,090 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Adobe were worth $10,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Western Pacific Wealth Management LP bought a new stake in shares of Adobe during the 4th quarter worth $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Adobe during the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Adobe during the 3rd quarter worth $27,000. Caitlin John LLC bought a new stake in shares of Adobe during the 3rd quarter worth $28,000. Finally, Beacon Financial Strategies CORP bought a new stake in shares of Adobe during the 4th quarter worth $28,000. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of the firm's 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 77,091 shares of company stock worth $18,782,773 over the last ninety days. 0.20% of the stock is owned by insiders.

Adobe Price Performance

Adobe stock opened at $247.60 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $100.08 billion, a PE ratio of 14.42, a P/E/G ratio of 0.92 and a beta of 1.42. Adobe Inc. has a 12 month low of $224.13 and a 12 month high of $422.95. The stock has a 50-day moving average price of $247.93 and a two-hundred day moving average price of $290.83.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.87 by $0.19. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Analysts expect that Adobe Inc. will post 19.14 EPS for the current year.

Adobe declared that its Board of Directors has initiated a share buyback program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on ADBE. Weiss Ratings downgraded Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 6th. Oppenheimer restated a "market perform" rating on shares of Adobe in a research report on Friday, March 13th. Wall Street Zen downgraded Adobe from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Barclays downgraded Adobe from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $335.00 to $275.00 in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. dropped their target price on Adobe from $520.00 to $420.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $338.15.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
• Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe's Digital Media Opportunity?
• Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
• Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

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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