Thrivent Financial for Lutherans Has $22.51 Million Stake in Adobe Inc. $ADBE

Key Points

• Thrivent Financial for Lutherans cut its Adobe stake by 6.7% in the fourth quarter, but still held 64,292 shares valued at about $22.5 million.
• Adobe’s latest earnings beat expectations, with $6.06 EPS and $6.40 billion in revenue, while revenue rose 12% year over year.
• The company’s board authorized a $25 billion share buyback, which could support the stock and signals management may view shares as undervalued.

Thrivent Financial for Lutherans trimmed its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,292 shares of the software company's stock after selling 4,647 shares during the period. Thrivent Financial for Lutherans' holdings in Adobe were worth $22,505,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Beacon Financial Advisory LLC raised its stake in shares of Adobe by 5.5% in the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company's stock valued at $204,000 after acquiring an additional 30 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Adobe by 20.8% in the third quarter. MCF Advisors LLC now owns 174 shares of the software company's stock worth $61,000 after buying an additional 30 shares during the last quarter. SWAN Capital LLC lifted its stake in shares of Adobe by 43.1% in the third quarter. SWAN Capital LLC now owns 103 shares of the software company's stock worth $36,000 after buying an additional 31 shares during the last quarter. Logan Capital Management Inc. lifted its stake in shares of Adobe by 0.3% in the third quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company's stock worth $3,453,000 after buying an additional 32 shares during the last quarter. Finally, Andina Capital Management LLC lifted its stake in shares of Adobe by 6.0% in the third quarter. Andina Capital Management LLC now owns 583 shares of the software company's stock worth $206,000 after buying an additional 33 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 755 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. This represents a 17.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief financial officer owned 42,833 shares in the company, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,091 shares of company stock worth $18,782,773 in the last three months. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Adobe in a report on Friday, March 13th. KeyCorp lowered their target price on Adobe from $310.00 to $235.00 and set an "underweight" rating on the stock in a report on Friday, March 13th. Summit Redstone set a $350.00 target price on Adobe in a report on Friday, April 17th. Morgan Stanley lowered their target price on Adobe from $425.00 to $365.00 and set an "equal weight" rating on the stock in a report on Friday, March 13th. Finally, BMO Capital Markets dropped their target price on shares of Adobe from $375.00 to $285.00 and set a "market perform" rating on the stock in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $338.15.

Adobe Stock Performance

Shares of ADBE opened at $247.60 on Monday. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $247.93 and a 200-day simple moving average of $290.36. The stock has a market cap of $100.08 billion, a PE ratio of 14.42, a PEG ratio of 0.97 and a beta of 1.42.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. The firm had revenue of $6.40 billion for 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 for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $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. On average, sell-side analysts predict that Adobe Inc. will post 19.14 EPS 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 repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Social media and market commentary point to a sector rotation from semiconductors into software, with Adobe among the leaders, as traders buy into a rebound for established SaaS and creative-tools names. Adobe Stock (ADBE) Opinions on Sector Rotation to Software
• Positive Sentiment: Analysts and investors highlighted Adobe as potentially undervalued after months of pressure, citing strong profitability and AI features such as Firefly and Acrobat AI Assistant as reasons the company can keep growing despite AI-related fears. Is Generative AI Expanding Adobe's Digital Media Opportunity?
• Neutral Sentiment: Coverage around Adobe’s latest AI product push, including the new Acrobat productivity agent, reinforces the company’s strategy to embed generative AI across its workflow tools, which could support longer-term revenue growth. Adobe (ADBE) Expands Its Agentic AI Push With New Acrobat Productivity Agent
• Negative Sentiment: Some recent articles and reviews emphasize competitive pressure and user dissatisfaction with Adobe’s products, while insider selling and heavy hedge fund trimming may keep sentiment cautious even after the rebound. Adobe was overkill for the editing I actually do, and that’s what finally made me leave

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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