Perigon Wealth Management LLC Invests $932,000 in Adobe Inc. $ADBE

Key Points

• Perigon Wealth Management initiated a $932,000 Adobe position by purchasing 4,544 shares in the second quarter. Institutional investors collectively own 81.79% of Adobe, while director David A. Ricks separately bought 10,000 shares.
• Analyst sentiment remains cautious: Adobe has an average “Hold” rating, with 21 Holds, seven Buys and five Sells, and an average price target of $269.81 after several firms reduced their targets.
• Adobe exceeded quarterly earnings and revenue expectations, reporting $5.96 in EPS and $6.62 billion in revenue, while revenue grew 12.7% year over year. The company also authorized a $25 billion share-buyback program, covering up to 24.9% of outstanding shares.

Perigon Wealth Management LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,544 shares of the software company's stock, valued at approximately $932,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI bought a new position in shares of Adobe in the second quarter worth approximately $10,120,000. Trust Co. of Vermont bought a new stake in Adobe during the second quarter valued at approximately $1,878,000. Principle Wealth Partners LLC purchased a new position in Adobe in the 2nd quarter worth approximately $379,000. Requisite Capital Management LLC purchased a new position in Adobe in the 2nd quarter worth approximately $288,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Adobe in the 2nd quarter worth $211,248,000. Institutional investors own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 416 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares in the company, valued at approximately $1,010,797.92. This represents a 9.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADBE. Jefferies Financial Group lowered their price target on Adobe from $290.00 to $230.00 and set a "hold" rating on the stock in a research report on Friday, June 12th. Mizuho cut their price objective on Adobe from $270.00 to $245.00 and set a "neutral" rating for the company in a report on Friday, June 12th. Morgan Stanley lowered Adobe from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $365.00 to $240.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada decreased their price objective on Adobe from $350.00 to $285.00 and set an "outperform" rating on the stock in a report on Monday, June 8th. Finally, Weiss Ratings downgraded Adobe from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Adobe currently has an average rating of "Hold" and an average price target of $269.81.

Adobe Stock Performance

Adobe stock opened at $263.14 on Wednesday. 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 firm has a 50-day moving average of $229.32 and a 200-day moving average of $245.06. The firm has a market cap of $104.60 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.89 and a beta of 1.40. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $370.86.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion for 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 was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm 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. Sell-side analysts expect that Adobe Inc. will post 19.81 EPS for the current year.

Adobe announced that its board has approved a stock buyback plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to buy up to 24.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s shift toward a freemium model for AI-powered tools— including holding off on price increases to expand its user base—could accelerate adoption and support its goal of double-digit annual recurring-revenue growth. Recent share-price momentum has also prompted renewed debate over whether the stock is below fair value. Is Adobe Below Fair Value On Its Freemium AI Push?
• Positive Sentiment: Investor rotation out of semiconductor stocks and into beaten-down technology names helped lift Adobe, along with Netflix and Salesforce. This suggests part of the move reflected broader sector positioning rather than a new company-specific announcement. Netflix, Salesforce, and Adobe Rally
• Positive Sentiment: In a comparison with DocuSign, Motley Fool analysts favored Adobe, reinforcing the view that Adobe remains a profitable, established software leader with an attractive valuation and meaningful AI opportunity. Docusign: A Cheap Turnaround or an AI Disruption Risk?
• Neutral Sentiment: Analyst coverage describes Adobe as being in a holding pattern while it awaits new management and evaluates the freemium transition, limiting near-term conviction despite the potential for wider AI adoption. Adobe in Holding Pattern
• Negative Sentiment: Some investors remain concerned that even successful AI execution may not quickly repair Adobe’s damaged market narrative. The company must prove that freemium tools can convert users into durable, profitable revenue growth. Adobe: Even If It Wins With AI, the Market May Take Years to Forgive

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.

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