Norges Bank Acquires Shares of 6,500,657 Adobe Inc. $ADBE

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Adobe, buying 6,500,657 shares valued at about $2.28 billion. The position represented roughly 1.58% of Adobe based on the latest SEC filing.
• Adobe has continued to attract major institutional interest, with several hedge funds and asset managers increasing their holdings. Overall, institutional investors now own 81.79% of the company.
• Wall Street sentiment remains cautious: recent analyst actions included lower price targets and at least one downgrade, while the consensus rating is still Hold with an average target price of $338.15.

Norges Bank acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,500,657 shares of the software company's stock, valued at approximately $2,275,165,000. Norges Bank owned approximately 1.58% of Adobe as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Willis Investment Counsel raised its stake in Adobe by 138.9% during the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company's stock valued at $14,250,000 after buying an additional 23,671 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Adobe by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company's stock valued at $38,309,000 after buying an additional 32,448 shares in the last quarter. Victory Capital Management Inc. raised its stake in Adobe by 112.6% during the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company's stock valued at $469,467,000 after buying an additional 710,357 shares in the last quarter. Nicholas Company Inc. grew its holdings in shares of Adobe by 7.6% during the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company's stock valued at $61,117,000 after purchasing an additional 12,400 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Adobe by 20.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,024,473 shares of the software company's stock valued at $361,383,000 after purchasing an additional 174,891 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADBE. Weiss Ratings lowered Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 6th. BMO Capital Markets lowered their target price on Adobe from $375.00 to $285.00 and set a "market perform" rating for the company in a report on Friday, March 13th. HSBC set a $302.00 target price on Adobe in a report on Friday, February 13th. Jefferies Financial Group lowered their target price on Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a report on Monday, February 23rd. Finally, Wells Fargo & Company lowered their target price on Adobe from $420.00 to $405.00 and set an "overweight" rating for the company in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $338.15.

Adobe Stock Performance

Shares of ADBE stock opened at $259.21 on Friday. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $421.48. The firm has a market capitalization of $104.77 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. The business has a 50 day simple moving average of $244.11 and a 200 day simple moving average of $284.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the company posted $5.08 EPS. The business'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 research analysts anticipate that Adobe Inc. will post 19.14 EPS for the current year.

Adobe announced that its board has authorized a share repurchase program on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 755 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares of the company's stock, valued at $867,046.25. This represents a 17.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $18,265,500.00. Following the completion of the transaction, the chief executive officer directly 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 valued at $18,782,773 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is seeing renewed buying ahead of its expected June 11 earnings release, with investors likely adjusting positions and leaning into a valuation rebound after a prolonged reset in software stocks. Adobe shares rise as investors position ahead of next earnings and lean into a valuation rebound
• Positive Sentiment: Recent commentary highlighted Adobe’s AI strategy, including AI agents and Acrobat becoming more of an AI workspace, which supports the view that Adobe can adapt its products to new workflows and defend its enterprise software franchise. Adobe Acrobat Studio review: Acrobat becomes an AI workspace
• Positive Sentiment: Adobe Analytics was named a “Champion” in Info-Tech Research Group’s 2026 Digital Analytics Data Quadrant, reinforcing the strength of Adobe’s analytics and customer-experience products. Top Digital Analytics Platforms Named 2026 Champions in Info-Tech Research Group's Data Quadrant Report

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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