North Dakota State Investment Board Takes $5.16 Million Position in Adobe Inc. $ADBE

Key Points

• North Dakota State Investment Board disclosed a new fourth-quarter position in Adobe, buying 14,747 shares worth about $5.16 million.
• Adobe continues to draw mixed sentiment: several institutional investors increased holdings, but insiders also sold shares, including CFO Daniel Durn and CAO Jillian Forusz.
• The company is leaning into AI-driven growth and shareholder returns, with new Acrobat AI tools and a recently authorized $25 billion share buyback plan supporting the stock narrative.

North Dakota State Investment Board purchased a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,747 shares of the software company's stock, valued at approximately $5,161,000.

Several other hedge funds have also made changes to their positions in ADBE. Rossmore Private Capital boosted its position in shares of Adobe by 6.7% during the 4th quarter. Rossmore Private Capital now owns 8,556 shares of the software company's stock worth $2,995,000 after purchasing an additional 540 shares during the period. Roberts Glore & Co. Inc. IL boosted its position in shares of Adobe by 15.4% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 3,583 shares of the software company's stock worth $1,254,000 after purchasing an additional 479 shares during the period. Eubel Brady & Suttman Asset Management Inc. boosted its position in shares of Adobe by 8.4% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 3,514 shares of the software company's stock worth $1,230,000 after purchasing an additional 271 shares during the period. Abacus Wealth Partners LLC purchased a new position in shares of Adobe during the 4th quarter worth approximately $443,000. Finally, iA Global Asset Management Inc. boosted its position in shares of Adobe by 76.1% during the 4th quarter. iA Global Asset Management Inc. now owns 142,530 shares of the software company's stock worth $49,884,000 after purchasing an additional 61,587 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In other news, CFO Daniel Durn sold 1,336 shares of the firm's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $248.02, for a total value of $331,354.72. Following the sale, the chief financial officer directly owned 42,833 shares in the company, valued at approximately $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 can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have 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: 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

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. Barclays cut shares of Adobe from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $335.00 to $275.00 in a research report on Friday, March 13th. Mizuho reaffirmed a "neutral" rating and set a $270.00 price objective (down from $315.00) on shares of Adobe in a research report on Monday, April 27th. BTIG Research assumed coverage on shares of Adobe in a research report on Monday, April 13th. They set a "neutral" rating for the company. Jefferies Financial Group reduced their target price on shares of Adobe from $400.00 to $290.00 and set a "hold" rating on the stock in a report on Monday, February 23rd. Finally, William Blair lowered shares of Adobe from an "outperform" rating to a "market perform" rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $338.15.

Adobe Price Performance

Adobe stock opened at $247.60 on Monday. The firm has a market cap of $100.08 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $422.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The company's 50 day moving average is $247.93 and its two-hundred day moving average is $290.36.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results 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 net margin of 29.48% and a return on equity of 64.48%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the prior year, the business earned $5.08 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. 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, research analysts expect that Adobe Inc. will post 19.14 EPS for the current fiscal year.

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

Adobe 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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