OLD National Bancorp IN Sells 19,026 Shares of Adobe Inc. $ADBE

Key Points

• OLD National Bancorp IN cut its Adobe stake by 35.6% in the first quarter, selling 19,026 shares and leaving it with 34,492 shares worth about $8.38 million.
• Adobe recently beat earnings and revenue expectations, posting EPS of $5.96 on $6.62 billion in revenue and raising its full-year guidance. The company also announced a $25 billion share buyback authorization, which covers up to 24.9% of its stock.
• Wall Street remains cautious overall: analysts currently rate Adobe a “Hold” on consensus, with a target price of $278.16, while the stock has been trading well below its 52-week high.

OLD National Bancorp IN decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 35.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,492 shares of the software company's stock after selling 19,026 shares during the quarter. OLD National Bancorp IN's holdings in Adobe were worth $8,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in shares of Adobe during the 1st quarter worth approximately $11,595,000. Silver Oak Securities Incorporated raised its position in shares of Adobe by 3.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,785 shares of the software company's stock valued at $434,000 after buying an additional 64 shares in the last quarter. Arta Finance Wealth Management LLC boosted its stake in shares of Adobe by 28.9% in the first quarter. Arta Finance Wealth Management LLC now owns 4,854 shares of the software company's stock valued at $1,180,000 after buying an additional 1,088 shares during the period. Breakwater Capital Group grew its position in Adobe by 19.0% during the first quarter. Breakwater Capital Group now owns 1,421 shares of the software company's stock worth $345,000 after buying an additional 227 shares in the last quarter. Finally, MBM Wealth Consultants LLC grew its position in Adobe by 11.4% during the first quarter. MBM Wealth Consultants LLC now owns 5,010 shares of the software company's stock worth $1,218,000 after buying an additional 511 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citizens Jmp reaffirmed a "market perform" rating on shares of Adobe in a report on Friday, June 12th. Jefferies Financial Group reduced their target price on Adobe from $290.00 to $230.00 and set a "hold" rating on the stock in a report on Friday, June 12th. Argus reaffirmed a "hold" rating on shares of Adobe in a research note on Monday, March 16th. Citigroup reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday, June 12th. Finally, 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 note on Friday, June 12th. Five research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $278.16.

Adobe Trading Up 4.8%

NASDAQ ADBE opened at $202.73 on Friday. The company has a market cap of $80.59 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.68 and a beta of 1.42. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $392.58. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The business's fifty day moving average is $236.56 and its 200 day moving average is $269.83.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.82 by $0.14. The business had revenue of $6.62 billion during the quarter, compared to analysts' expectations of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.06 EPS. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 19.8 EPS for the current fiscal year.

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

Insider Transactions at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 of the company's stock, valued at $87,561,884.52. The trade was a 17.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn sold 1,336 shares of the company's stock in a transaction that occurred on Monday, April 20th. The shares were 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 owned 42,833 shares of the company's stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by corporate insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI image and video enhancement company. Investors may view the deal as a strategic move to strengthen Creative Cloud with better generative AI tools and improve its competitive position. Adobe to Acquire Topaz Labs
• Positive Sentiment: A director, David A. Ricks, bought 10,000 shares at $194.51 each, boosting his stake by more than 130%. Insider buying can signal confidence in Adobe’s outlook after the stock’s pullback. David A. Ricks insider trade
• Positive Sentiment: Recent earnings were strong: Adobe posted record revenue of $6.62 billion and EPS of $5.96, both above estimates, and raised its full-year guidance. That supports the case that the business is still growing despite AI-related worries. Adobe Stock Opinions on Recent Q2 Earnings Report
• Neutral Sentiment: Industry commentary and analyst notes continue to highlight Adobe’s strong cash flow and leadership in creative software, but also raise questions about valuation and competitive pressure from AI tools. Adobe vs. Innodata: Which Technology Stock Is a Better Buy in 2026?
• Negative Sentiment: Adobe remains well below recent highs, and some investors are still focused on whether generative AI could pressure core products like Creative Cloud. This helps explain why the stock has been volatile despite the upbeat news flow.

Adobe Company 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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