Peapack Gladstone Financial Corp Increases Stake in Adobe Inc. $ADBE

Key Points

• Peapack Gladstone Financial Corp increased its Adobe stake by 22.1% in the fourth quarter, owning 28,124 shares worth about $9.84 million after adding 5,096 shares.
• Adobe’s insider activity showed notable selling, including CEO Shantanu Narayen selling 75,000 shares and CAO Jillian Forusz selling 755 shares; insiders sold 77,091 shares total last quarter.
• Despite mixed analyst ratings, Adobe recently beat quarterly earnings and revenue estimates, and the company also authorized a $25 billion share buyback covering up to 24.9% of outstanding shares.

Peapack Gladstone Financial Corp raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,124 shares of the software company's stock after buying an additional 5,096 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Adobe were worth $9,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ADBE. Western Pacific Wealth Management LP purchased a new position in shares of Adobe in the fourth quarter valued at $26,000. Measured Wealth Private Client Group LLC purchased a new position in Adobe during the third quarter worth $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Adobe during the third quarter worth $27,000. Caitlin John LLC purchased a new position in Adobe during the third quarter worth $28,000. Finally, Beacon Financial Strategies CORP purchased a new position in Adobe during the fourth quarter worth $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction dated 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 transaction, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction dated 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 transaction, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This trade represents a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,091 shares of company stock worth $18,782,773 over the last quarter. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADBE. Weiss Ratings lowered shares of Adobe from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 6th. William Blair lowered shares of Adobe from an "outperform" rating to a "market perform" rating in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Adobe in a research report on Friday, March 13th. Citigroup reiterated a "neutral" rating on shares of Adobe in a research report on Friday, April 10th. Finally, DA Davidson set a $300.00 target price on Adobe in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seventeen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $338.15.

Adobe Stock Performance

ADBE stock opened at $274.03 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average price of $244.67 and a 200 day moving average price of $283.66. The company has a market capitalization of $110.76 billion, a P/E ratio of 15.96, a PEG ratio of 1.01 and a beta of 1.42. Adobe Inc. has a 1-year low of $224.13 and a 1-year high of $421.48.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.87 by $0.19. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 19.15 EPS for the current fiscal year.

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

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe benefited from a software sector rally after Nvidia unveiled new AI hardware, which investors see as supportive for AI-enabled creative and enterprise software demand. ServiceNow, Adobe stocks jump as Nvidia’s new AI chip sparks software rally
• Positive Sentiment: News that Adobe’s Photoshop and Premiere products may get a major AI speed boost through Nvidia RTX Spark could strengthen the investment case for Adobe’s AI strategy and product performance. Adobe x Nvidia RTX Spark: Photoshop, Premiere get 2x AI speed boost
• Positive Sentiment: Coverage highlighting Adobe’s AI headshot generator and efforts to prepare workers for AI reinforces the view that Adobe is monetizing AI across its creative and productivity suite. Want an Image Glow Up? Adobe’s AI Headshot Generator Makes You Look Like a Pro What Adobe Is Doing To Prepare Curious And Creative Workers For AI
• Positive Sentiment: Adobe’s upcoming June 11 earnings release is keeping attention on the stock, with investors hoping the report confirms stable growth and strong AI-related demand. Adobe to Announce Q2 FY2026 Earnings Results on June 11, 2026
• Neutral Sentiment: Adobe India MD Prativa Mohapatra stepping down is a leadership change, but it appears limited in immediate financial impact unless more turnover follows. Adobe India MD Prativa Mohapatra steps down after nearly five years
• Neutral Sentiment: Several commentary pieces note that Adobe remains well below its prior peak and faces mixed analyst views, so sentiment is improving but still cautious ahead of earnings. Adobe (ADBE) Soars 7.4%: Is Further Upside Left in the Stock? What's behind Adobe stock's newfound momentum on Monday?
• Negative Sentiment: One Zacks note warned that recent earnings estimate revisions may limit further near-term upside, suggesting some investors are still skeptical despite the recent rebound. Adobe (ADBE) Soars 7.4%: Is Further Upside Left in the Stock?

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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