Oak Associates Ltd. OH Purchases 44,593 Shares of Adobe Inc. $ADBE

Key Points

• Oak Associates Ltd. OH increased its Adobe stake by 56.2% in the first quarter, buying 44,593 additional shares and bringing its total holding to 123,922 shares worth about $30.1 million.
• Adobe’s institutional ownership remains high at 81.79%, while insider ownership is low at 0.20%. Recent insider sales included CEO Shantanu Narayen and CAO Jillian Forusz, who both reduced their holdings.
• Analysts remain cautious overall: the stock has a Hold consensus with an average price target of $271.30, even as Adobe posted stronger-than-expected quarterly earnings and revenue and authorized a $25 billion share buyback.

Oak Associates Ltd. OH lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 56.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,922 shares of the software company's stock after purchasing an additional 44,593 shares during the period. Adobe comprises 2.0% of Oak Associates Ltd. OH's portfolio, making the stock its 15th largest holding. Oak Associates Ltd. OH's holdings in Adobe were worth $30,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Norges Bank purchased a new stake in Adobe in the 4th quarter worth $2,275,165,000. AQR Capital Management LLC lifted its position in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock valued at $912,705,000 after acquiring an additional 920,353 shares in the last quarter. Amundi boosted its stake in shares of Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company's stock worth $1,711,583,000 after acquiring an additional 742,646 shares during the period. State of Michigan Retirement System boosted its stake in shares of Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company's stock worth $199,526,000 after acquiring an additional 697,600 shares during the period. Finally, AMF Tjanstepension AB purchased a new stake in shares of Adobe during the first quarter worth about $167,494,000. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 755 shares of the firm's stock in a transaction that occurred on 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 directly owned 3,521 shares of the company's stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their target price on Adobe from $350.00 to $285.00 and set an "outperform" rating on the stock in a research note on Monday, June 8th. Citizens Jmp restated a "market perform" rating on shares of Adobe in a research note on Friday, June 12th. BTIG Research initiated coverage on shares of Adobe in a report on Monday, April 13th. They set a "neutral" rating for the company. Mizuho reduced their price objective on shares of Adobe from $270.00 to $245.00 and set a "neutral" rating on the stock in a research report on Friday, June 12th. Finally, Wells Fargo & Company lowered their target price on shares of Adobe from $330.00 to $250.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $271.30.

Adobe Price Performance

ADBE stock opened at $212.17 on Friday. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $376.16. The firm has a market capitalization of $84.34 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.73 and a beta of 1.43. The company has a fifty day simple moving average of $227.23 and a two-hundred day simple moving average of $252.03. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping analysts' consensus estimates of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the firm posted $5.06 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has authorized a stock 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 buy up to 24.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Morgan Stanley downgraded Adobe to underweight from equal-weight and cut its price target to $240 from $365, citing concerns that Adobe’s move toward free basic services could pressure subscription revenue, along with leadership uncertainty and other strategic shifts. Why Adobe (ADBE) Shares Are Sliding Today
• Negative Sentiment: Zacks said Adobe’s large pullback from its 52-week high reflects investor doubts about AI monetization, slower near-term ARR growth, and ongoing leadership changes despite strong product adoption. Adobe Drops 40% From 52-Week High: Buy, Sell or Hold the Stock?
• Negative Sentiment: Adobe’s stock also underperformed peers recently, reinforcing the view that sentiment remains weak relative to other software names. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Neutral Sentiment: CLSA reportedly initiated coverage with a moderate buy rating, which offers a counterpoint to the bearish calls but has not yet offset the broader negative sentiment. Adobe NASDAQ: ADBE Earns Moderate Buy Rating from Analysts at CLSA
• Neutral Sentiment: Insider activity was mixed across the tech sector, with one note highlighting that Eli Lilly CEO David Ricks bought Adobe shares, though this is not enough on its own to change the near-term narrative. Insider Moves Are Sending Mixed Signals Across the Tech Sector

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.