Stoneridge Investment Partners LLC Takes Position in Adobe Inc. $ADBE

Key Points

• Stoneridge Investment Partners initiated a 5,212-share Adobe position valued at approximately $1.3 million, while institutional investors and hedge funds collectively own 81.79% of the company.
• Adobe exceeded quarterly expectations with $5.96 in EPS and $6.62 billion in revenue, representing 12.7% year-over-year growth. The board also authorized a $25 billion share-repurchase program, covering up to 24.9% of outstanding shares.
• Analysts remain cautious, with Adobe receiving an average “Hold” rating and a $269.81 consensus price target after several firms lowered their targets.

Stoneridge Investment Partners LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,212 shares of the software company's stock, valued at approximately $1,305,000. Adobe accounts for approximately 0.9% of Stoneridge Investment Partners LLC's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Adobe in the 4th quarter valued at $2,275,165,000. AQR Capital Management LLC increased its position in Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company's stock worth $912,705,000 after buying an additional 920,353 shares during the period. Amundi increased its position in Adobe by 17.9% during the 3rd quarter. Amundi now owns 4,888,283 shares of the software company's stock worth $1,711,583,000 after buying an additional 742,646 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Adobe by 566.1% during the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company's stock worth $199,526,000 after buying an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Adobe during the first quarter worth $167,494,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

ADBE opened at $264.02 on Friday. The firm has a market cap of $104.95 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The business's fifty day moving average is $228.64 and its 200-day moving average is $246.04.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts' consensus estimates of $5.82 by $0.14. The company 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%.Adobe's revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business 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 fiscal year.

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

Insider Activity

In other news, Director David A. Ricks acquired 10,000 shares of the firm'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 completion of the purchase, the director directly owned 17,655 shares of the company's stock, valued at $3,434,074.05. The trade was a 130.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 416 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total transaction of $109,961.28. Following the transaction, the chief accounting officer owned 3,824 shares of the company's stock, valued at approximately $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on ADBE shares. Robert W. Baird decreased their price target on shares of Adobe from $270.00 to $230.00 and set a "neutral" rating on the stock in a research note on Friday, June 12th. TD Cowen dropped their price objective on shares of Adobe from $310.00 to $285.00 and set a "hold" rating for the company in a research note on Monday, June 8th. Weiss Ratings reissued a "sell (d+)" rating on shares of Adobe in a report on Wednesday, June 3rd. Citizens Jmp restated a "market perform" rating on shares of Adobe in a research report on Friday, June 12th. Finally, Wolfe Research cut shares of Adobe from an "outperform" rating to a "peer perform" rating in a report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $269.81.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s AI business is showing stronger traction: the company has reported a series of record earnings, while AI-related revenue has reportedly tripled. That performance is helping challenge the view that generative AI will permanently weaken Adobe’s creative-software franchise. Adobe Stock Eyes Rebound. Is This a Golden AI Opportunity?
• Positive Sentiment: ADBE has recovered substantially from its 2026 low as investors rotate back into beaten-down software stocks. The rebound suggests some investors believe Adobe’s earnings power and AI product expansion are being undervalued. Adobe stock is taking off: Could a rumored Workday buyout push it higher?
• Neutral Sentiment: A rumored potential acquisition of Workday is being discussed as a possible catalyst, but there is no confirmed transaction. Any deal could expand Adobe’s enterprise software reach, while also introducing execution, financing, and integration risks. Adobe stock is taking off: Could a rumored Workday buyout push it higher?
• Neutral Sentiment: One strategy article recommends selling options to collect income while setting a lower potential purchase price for Adobe. This may appeal to bullish, income-oriented investors, but it is not a fundamental catalyst and reflects continued caution about the stock’s near-term path. ADBE Stock: Collect 12% While Setting A 30%-Off Buy Price
• Negative Sentiment: Adobe remains one of the most heavily punished large-cap software stocks after losing roughly one-third from its peak. Investors continue to question whether generative AI could erode demand for its core creative products, even as recent results have been strong. That unresolved concern likely helps explain the pressure on ADBE today. Adobe Stock Eyes Rebound. Is This a Golden AI Opportunity?

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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