Swedbank AB Reduces Position in Adobe Inc. $ADBE

Key Points

• Swedbank AB trimmed its Adobe stake by 8.9% in the first quarter, selling 72,362 shares and ending with 736,879 shares worth about $179.1 million.
• Adobe’s fundamentals were mixed but still solid: the company beat quarterly EPS and revenue estimates, while also announcing FY 2026 guidance and a massive $25 billion share buyback authorization.
• Analyst sentiment remains cautious, with several firms cutting price targets amid concerns about AI competition; Adobe’s consensus rating is currently Hold with a target price of $275.

Swedbank AB lessened its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 736,879 shares of the software company's stock after selling 72,362 shares during the quarter. Swedbank AB owned 0.18% of Adobe worth $179,121,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Greatmark Investment Partners Inc. purchased a new stake in shares of Adobe during the first quarter worth about $490,000. Dumont & Blake Investment Advisors LLC lifted its stake in Adobe by 65.8% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 3,166 shares of the software company's stock valued at $770,000 after buying an additional 1,256 shares in the last quarter. Canvas Wealth Advisors LLC acquired a new stake in Adobe in the 1st quarter worth about $210,000. Whittier Trust Co. of Nevada Inc. increased its stake in Adobe by 1.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,074 shares of the software company's stock worth $1,484,000 after buying an additional 66 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Adobe by 22.7% during the 1st quarter. Whittier Trust Co. now owns 5,895 shares of the software company's stock worth $1,440,000 after buying an additional 1,092 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 1,336 shares of the business's stock in a transaction that occurred on 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 owned 42,833 shares in the company, valued at $10,623,440.66. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks acquired 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares in the company, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock valued at $18,782,773 in the last three months. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ADBE. Wells Fargo & Company reduced their price objective on Adobe from $330.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Adobe in a research note on Friday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $420.00 to $340.00 and set an "overweight" rating for the company in a report on Friday, June 12th. KeyCorp reduced their target price on shares of Adobe from $235.00 to $195.00 and set an "underweight" rating for the company in a research report on Friday, June 12th. Finally, Wolfe Research downgraded shares of Adobe from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $275.00.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Bank of America downgraded Adobe to Underperform and cut its price target to $190, citing concerns that AI-powered competitors could slow Adobe’s growth. Bank of America Downgrades Adobe (ADBE) Stock with $190 Price Target Amid AI Disruption
• Negative Sentiment: BofA also reaffirmed the Underperform view, reinforcing investor worries that Adobe may be vulnerable to AI-driven competition and slower monetization of its own AI features. Adobe Stock (ADBE) Gets a Sell Rating From BofA. Here’s Why
• Negative Sentiment: News that a maximum-severity Adobe ColdFusion flaw is now being actively exploited adds a cybersecurity overhang, which could increase reputational and remediation concerns. Max severity Adobe ColdFusion flaw now exploited in attacks
• Neutral Sentiment: Zacks highlighted Adobe as a strong growth stock, which offers a mildly supportive counterpoint, but the item appears more style-score driven than a new fundamental catalyst. Here's Why Adobe Systems (ADBE) is a Strong Growth Stock

Adobe Trading Up 5.0%

NASDAQ:ADBE traded up $11.00 on Tuesday, reaching $229.07. The company's stock had a trading volume of 2,921,698 shares, compared to its average volume of 6,068,477. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $386.60. The stock has a 50 day moving average price of $232.91 and a 200 day moving average price of $264.53. The firm has a market cap of $91.06 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the business earned $5.06 EPS. The company's quarterly revenue was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, equities analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are generally a sign 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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