Sterling Capital Management LLC Has $3.70 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Sterling Capital Management cut its Adobe stake by 32.7% in the first quarter, selling 7,398 shares and ending with 15,224 shares valued at about $3.7 million.
• Adobe has been getting mixed analyst attention: RBC and TD Cowen lowered price targets, while Wall Street Zen upgraded the stock to buy. Overall, MarketBeat shows a Hold consensus and an average target price of $278.16.
• The company reported strong quarterly results with record revenue of $6.62 billion and EPS of $5.96, both above estimates, and raised guidance. Adobe also approved a $25 billion share buyback and announced plans to acquire Topaz Labs to bolster AI tools.

Sterling Capital Management LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,224 shares of the software company's stock after selling 7,398 shares during the quarter. Sterling Capital Management LLC's holdings in Adobe were worth $3,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambient Family Office LLC lifted its holdings in shares of Adobe by 13.1% in the first quarter. Cambient Family Office LLC now owns 909 shares of the software company's stock worth $221,000 after acquiring an additional 105 shares during the last quarter. Rooted Wealth Advisors Inc. acquired a new position in shares of Adobe in the first quarter valued at approximately $224,000. Venturi Wealth Management LLC increased its position in Adobe by 18.9% in the 1st quarter. Venturi Wealth Management LLC now owns 1,590 shares of the software company's stock valued at $386,000 after acquiring an additional 253 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its position in Adobe by 34.8% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 7,053 shares of the software company's stock worth $1,714,000 after purchasing an additional 1,819 shares during the last quarter. Finally, HF Advisory Group LLC grew its position in shares of Adobe by 21.2% in the 1st quarter. HF Advisory Group LLC now owns 4,735 shares of the software company's stock valued at $1,151,000 after buying an additional 828 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada decreased their price target on Adobe from $350.00 to $285.00 and set an "outperform" rating for the company in a research note on Monday, June 8th. UBS Group set a $365.00 target price on shares of Adobe in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Summit Redstone set a $350.00 price target on shares of Adobe in a research report on Friday, April 17th. Finally, TD Cowen reduced their price objective on shares of Adobe from $310.00 to $285.00 and set a "hold" rating on the stock in a research note on Monday, June 8th. Five 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $278.16.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced a definitive agreement to acquire Topaz Labs, an AI image and video enhancement company. Investors may view the deal as a strategic move to strengthen Creative Cloud with better generative AI tools and improve its competitive position. Adobe to Acquire Topaz Labs
• Positive Sentiment: A director, David A. Ricks, bought 10,000 shares at $194.51 each, boosting his stake by more than 130%. Insider buying can signal confidence in Adobe’s outlook after the stock’s pullback. David A. Ricks insider trade
• Positive Sentiment: Recent earnings were strong: Adobe posted record revenue of $6.62 billion and EPS of $5.96, both above estimates, and raised its full-year guidance. That supports the case that the business is still growing despite AI-related worries. Adobe Stock Opinions on Recent Q2 Earnings Report
• Neutral Sentiment: Industry commentary and analyst notes continue to highlight Adobe’s strong cash flow and leadership in creative software, but also raise questions about valuation and competitive pressure from AI tools. Adobe vs. Innodata: Which Technology Stock Is a Better Buy in 2026?
• Negative Sentiment: Adobe remains well below recent highs, and some investors are still focused on whether generative AI could pressure core products like Creative Cloud. This helps explain why the stock has been volatile despite the upbeat news flow.

Adobe Stock Up 4.8%

Shares of NASDAQ ADBE opened at $202.73 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a market cap of $80.59 billion, a PE ratio of 11.60, a P/E/G ratio of 0.71 and a beta of 1.42. The company's fifty day simple moving average is $236.56 and its 200 day simple moving average is $269.83. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $392.58.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. 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 posted $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. As a group, sell-side analysts forecast that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has approved a share 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 reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions 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 acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $10,623,440.66. The trade was a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

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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