Rathbones Group PLC Trims Holdings in Adobe Inc. $ADBE

Key Points

• Rathbones Group PLC reduced its Adobe stake by 6.5% in the fourth quarter, selling 27,886 shares and ending with 400,346 shares valued at about $140.1 million. Despite the trim, institutional investors still own the vast majority of Adobe shares.
• Adobe’s recent fundamentals and capital return actions look solid: the company beat quarterly EPS and revenue estimates, raised fiscal 2026 guidance, and launched a $25 billion share buyback program that could repurchase up to 24.9% of outstanding stock.
• Sentiment is mixed as analysts have generally turned cautious, with several price target cuts and an overall “Hold” consensus, while insiders have also been selling shares. At the same time, Adobe is seeing some positive attention from product expansion into Google Gemini and broader AI-related workflows.

Rathbones Group PLC cut its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,346 shares of the software company's stock after selling 27,886 shares during the quarter. Rathbones Group PLC owned approximately 0.10% of Adobe worth $140,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Western Pacific Wealth Management LP purchased a new stake in shares of Adobe in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Adobe in the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Adobe during the third quarter valued at $27,000. Caitlin John LLC bought a new position in shares of Adobe during the third quarter valued at $28,000. Finally, Beacon Financial Strategies CORP bought a new position in shares of Adobe during the fourth quarter valued at $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe was highlighted as a favored name by investor Michael Burry, who confirmed he maintained a position in the stock and was also reported to have added to Adobe alongside other beaten-down names. That can boost sentiment because it signals value investors still see upside in the shares. Adobe Inc. (ADBE): Michael Burry Maintains Position
• Positive Sentiment: Adobe also announced a product-related development, bringing professional creative tools into Google Gemini and teasing an upcoming Premiere Android app. Investors may view this as a sign Adobe is expanding its ecosystem and keeping its creative software relevant in AI-driven workflows. Adobe brings professional creative tools straight into Google Gemini; Premiere Android app coming soon
• Positive Sentiment: Some market commentary continued to frame Adobe as a top-ranked growth or software-rebound candidate, which can help support the stock among investors looking for software names with valuation upside. The software rally may still have legs. Buy ServiceNow and Adobe.
• Neutral Sentiment: A court dismissed an amended shareholder lawsuit tied to Adobe’s disclosures around Figma-related competition, but the plaintiff is appealing. That means the legal issue is not fully resolved, keeping governance and litigation risk on investors’ radar. Adobe Lawsuit Appeal Keeps Governance Questions And Value Debate Alive
• Negative Sentiment: DBS Bank downgraded Adobe from “moderate buy” to “hold,” which can weigh on the stock by signaling less near-term upside from current levels. Adobe downgraded by Dbs Bank

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reduced their price target on Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a report on Monday, February 23rd. HSBC set a $302.00 price target on Adobe in a report on Friday, February 13th. Mizuho restated a "neutral" rating and set a $270.00 price target (down from $315.00) on shares of Adobe in a report on Monday, April 27th. Argus restated a "hold" rating on shares of Adobe in a report on Monday, March 16th. Finally, KeyCorp reduced their price target on Adobe from $310.00 to $235.00 and set an "underweight" rating for the company in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $338.15.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn sold 1,336 shares of the business's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the sale, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. The trade was a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the business's 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 sale, the chief accounting officer owned 3,521 shares of the company's stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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 Price Performance

NASDAQ ADBE opened at $253.37 on Thursday. Adobe Inc. has a one year low of $224.13 and a one year high of $422.95. The stock has a 50-day moving average of $246.25 and a 200 day moving average of $288.44. The company has a market capitalization of $102.41 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.99 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The company had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the company earned $5.08 EPS. Adobe's revenue for the quarter was up 12.0% on a year-over-year basis. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, sell-side analysts forecast that Adobe Inc. will post 19.14 EPS for the current year.

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

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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