Parallel Advisors LLC Sells 5,149 Shares of Adobe Inc. $ADBE

Key Points

• Parallel Advisors LLC reduced its Adobe stake by 17.7% in the first quarter, selling 5,149 shares and leaving it with 23,862 shares valued at about $5.8 million.
• Adobe posted solid quarterly results, reporting EPS of $5.96 and revenue of $6.62 billion, both ahead of analyst expectations, with revenue up 12.7% year over year. The company also reaffirmed strong guidance for FY2026.
• Adobe remains active on capital returns and has mixed sentiment from analysts, including a new $25 billion share repurchase authorization, while recent rating changes pushed the stock to a consensus “Hold” with an average target price of $271.30.

Parallel Advisors LLC lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,862 shares of the software company's stock after selling 5,149 shares during the period. Parallel Advisors LLC's holdings in Adobe were worth $5,800,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Ironwood Investment Counsel LLC lifted its position in shares of Adobe by 13.3% during the 1st quarter. Ironwood Investment Counsel LLC now owns 25,415 shares of the software company's stock valued at $6,178,000 after buying an additional 2,993 shares during the last quarter. KBC Group NV grew its stake in shares of Adobe by 10.3% during the 1st quarter. KBC Group NV now owns 380,870 shares of the software company's stock worth $92,582,000 after acquiring an additional 35,692 shares during the period. SEB Asset Management AB purchased a new stake in Adobe in the 1st quarter worth about $131,723,000. Swiss National Bank increased its holdings in Adobe by 7.1% in the 1st quarter. Swiss National Bank now owns 1,228,500 shares of the software company's stock worth $298,624,000 after acquiring an additional 81,440 shares during the last quarter. Finally, AIA Group Ltd raised its stake in Adobe by 48.0% in the 1st quarter. AIA Group Ltd now owns 32,894 shares of the software company's stock valued at $7,996,000 after acquiring an additional 10,673 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Down 1.1%

Shares of Adobe stock opened at $234.74 on Tuesday. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $376.16. The company has a market cap of $93.31 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.80 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The company's 50-day moving average price is $228.35 and its 200-day moving average price is $254.68.

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

Adobe announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CAO Jillian Forusz sold 755 shares of the business'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 transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks purchased 10,000 shares of the firm's stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director owned 17,655 shares of the company's stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on ADBE shares. Freedom Capital downgraded shares of Adobe from a "strong-buy" rating to a "hold" rating in a report on Friday, June 12th. Morgan Stanley lowered shares of Adobe from an "overweight" rating to an "underweight" rating and set a $240.00 price target on the stock. in a research report on Tuesday. Evercore set a $225.00 price target on shares of Adobe and gave the company an "in-line" rating in a research note on Friday, June 12th. Wells Fargo & Company cut their price objective on shares of Adobe from $330.00 to $250.00 and set an "overweight" rating for the company in a report on Friday, June 12th. Finally, Wolfe Research lowered shares of Adobe from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $271.30.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is adding new AI-powered features to its experimental Project Indigo camera app, including LLM-based photo critiques and editing suggestions, reinforcing the company’s AI product momentum and showing continued innovation in consumer-facing tools. Adobe camera app's new feature will critique your photos using AI
• Positive Sentiment: Adobe was highlighted as a strong value stock in a Zacks screen, which may support investor confidence by reinforcing the stock’s valuation appeal after its pullback. Here's Why Adobe Systems (ADBE) is a Strong Value Stock
• Neutral Sentiment: Recent coverage placing Adobe among top digital media stocks to watch does not point to a new catalyst, but it keeps the name on investors’ radar. Top Digital Media Stocks To Watch Today - July 17th
• Neutral Sentiment: Adobe’s stock was noted as dipping more than the broader market in the latest session, suggesting the decline was modest and may have been driven by general trading weakness rather than company-specific bad news. Why Adobe Systems (ADBE) Dipped More Than Broader Market Today
• Negative Sentiment: Adobe CEO Shantanu Narayen sold 4,112 shares for about $923,000, a move some investors may view as a mild negative signal even though it represented only a small reduction in his overall stake. Here's What the Adobe CEO's Sale of Company Shares for Over $900,000 Means for Investors.

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.

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.