RNC Capital Management LLC Sells 6,039 Shares of Adobe Inc. $ADBE

Key Points

• RNC Capital Management LLC reduced its Adobe stake by 30.6%, selling 6,039 shares and retaining 13,700 shares valued at about $4.795 million at quarter-end.
• Adobe's board authorized a $25.0 billion share buyback program, permitting repurchases of up to 24.9% of outstanding stock.
• Adobe beat quarterly estimates with $6.06 EPS (vs. $5.87 expected) and $6.40 billion revenue (vs. $6.28 billion expected), and set FY2026 EPS guidance of 23.300–23.500 (Q2 guidance 5.800–5.850).

RNC Capital Management LLC lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 30.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,700 shares of the software company's stock after selling 6,039 shares during the period. RNC Capital Management LLC's holdings in Adobe were worth $4,795,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new stake in Adobe during the third quarter valued at approximately $26,000. Caitlin John LLC bought a new stake in Adobe during the third quarter valued at approximately $28,000. Beacon Financial Strategies CORP bought a new stake in Adobe during the fourth quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in Adobe during the third quarter valued at approximately $27,000. Finally, Marquette Asset Management LLC grew its position in Adobe by 72.3% during the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company's stock valued at $28,000 after buying an additional 34 shares during the period. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

ADBE opened at $253.93 on Tuesday. The firm has a market cap of $102.64 billion, a P/E ratio of 14.79, a PEG ratio of 0.98 and a beta of 1.42. Adobe Inc. has a 1-year low of $224.13 and a 1-year high of $422.95. The company has a 50 day simple moving average of $250.36 and a two-hundred day simple moving average of $296.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, topping analysts' consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The company's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business 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. Equities analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a share buyback program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the company's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total value 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 $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was 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 directly owned 3,521 shares of the company's stock, valued at approximately $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 sold a total of 77,091 shares of company stock valued at $18,782,773 over the last 90 days. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ADBE. BMO Capital Markets cut their price target on Adobe from $375.00 to $285.00 and set a "market perform" rating for the company in a report on Friday, March 13th. Morgan Stanley cut their price target on Adobe from $425.00 to $365.00 and set an "equal weight" rating for the company in a report on Friday, March 13th. William Blair lowered Adobe from an "outperform" rating to a "market perform" rating in a report on Thursday, March 26th. Citigroup reissued a "neutral" rating on shares of Adobe in a report on Friday, April 10th. Finally, Mizuho reissued 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $338.15.

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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