PNC Financial Services Group Inc. Has $38.19 Million Stock Holdings in Adobe Inc. $ADBE

PNC Financial Services Group Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,103 shares of the software company’s stock after purchasing an additional 4,990 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Adobe were worth $38,185,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ADBE. Brighton Jones LLC boosted its stake in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after purchasing an additional 167 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Adobe by 25.5% in the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after acquiring an additional 486 shares during the period. United Bank lifted its stake in shares of Adobe by 12.8% in the second quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after acquiring an additional 428 shares during the period. Schnieders Capital Management LLC. lifted its stake in shares of Adobe by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after acquiring an additional 190 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Adobe by 190.6% in the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock worth $1,069,000 after acquiring an additional 1,813 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADBE shares. Piper Sandler cut their price objective on Adobe from $330.00 to $280.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Summit Redstone set a $350.00 price objective on Adobe in a research note on Friday, April 17th. Stifel Nicolaus cut their price objective on Adobe from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. DA Davidson set a $300.00 price objective on Adobe in a research note on Friday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Adobe in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of “Hold” and a consensus target price of $338.15.

Insider Activity

In other news, CAO Jillian Forusz sold 755 shares of the business’s 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 completion of the sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The shares were 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 of the company’s stock, valued at approximately $10,623,440.66. This represents a 3.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is expanding its Firefly-powered creative tools into Google Gemini, which could broaden usage of its software and reinforce its position in digital creativity workflows. Adobe Is Bringing Its Firefly-Powered Creative AI Tools Directly Into Google Gemini
• Positive Sentiment: Commentary from 24/7 Wall St. highlighted Adobe as an oversold turnaround idea, arguing the stock’s weakness may be overdone relative to its fundamentals and AI-related revenue prospects. Adobe Price Prediction. A $417 Stock Now at $253 With AI Revenue Tripling. Here Is Our 12 Month Target
• Positive Sentiment: Michael Burry reportedly maintained a position in Adobe, which may signal some contrarian investor confidence in the beaten-down stock. Adobe Inc. (ADBE): Michael Burry Maintains Position

Adobe Price Performance

Shares of ADBE opened at $244.10 on Friday. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $421.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. The business’s 50 day moving average price is $245.63 and its two-hundred day moving average price is $287.76. The firm has a market cap of $98.67 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the firm earned $5.08 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. 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, equities analysts anticipate that Adobe Inc. will post 19.14 EPS for the current year.

Adobe announced that its board has approved a stock buyback plan on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.