Adobe Inc. $ADBE Stake Lessened by SouthState Bank Corp

SouthState Bank Corp lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,047 shares of the software company’s stock after selling 2,890 shares during the quarter. SouthState Bank Corp’s holdings in Adobe were worth $11,436,000 at the end of the most recent reporting period.

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

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is advancing its AI strategy, including a planned acquisition of Topaz Labs, which should deepen its AI-powered creative tools and strengthen its core product suite. Adobe (ADBE) Buys Topaz Labs As AI Revenue Runs At 3x Prior Year
• Positive Sentiment: Adobe’s AI-first recurring revenue is growing quickly, with management saying it is running at more than three times last year’s pace and now above $500 million, which supports the long-term growth narrative. Adobe (ADBE) Freemium AI Push Puts Valuation Back In Focus
• Positive Sentiment: Technical momentum has improved, with Adobe recently breaking above its 50-day moving average, which some traders view as a short-term bullish signal. Adobe Systems (ADBE) Recently Broke Out Above the 50-Day Moving Average
• Neutral Sentiment: Several articles highlighted Adobe’s AI and brand-discovery efforts, including commentary from its CMO on how AI is changing marketing and search behavior, but these were more strategic than immediately market-moving. Adobe CMO Lara Balazs Says AI Is Rewriting Brand Discovery: ‘There’s AI. Do That.’
• Neutral Sentiment: Adobe continues to draw investor attention after strong quarterly results and raised guidance, but those positives are being balanced against valuation concerns and the risk of softer enterprise spending. Adobe Inc. (ADBE) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: IBM’s warning about weaker enterprise software spending is weighing on Adobe and the broader software group, raising fears that customers may delay or cut software purchases. IBM Warning Hits Software Stocks
• Negative Sentiment: Adobe’s stock has been in a longer-term downtrend despite recent rebounds, so some investors may still be cautious about the valuation and recovery path. Is Adobe Stock Really Broken, or Just Violently Marked Down?

Adobe Stock Performance

Adobe stock opened at $220.78 on Wednesday. Adobe Inc. has a fifty-two week low of $190.12 and a fifty-two week high of $376.16. The firm’s 50 day simple moving average is $229.83 and its 200-day simple moving average is $258.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $87.76 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $5.06 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. 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, equities research analysts predict that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its board has authorized a stock buyback plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to reacquire up to 24.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a report on Friday, June 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. BTIG Research began coverage on Adobe in a report on Monday, April 13th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their price objective on Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Finally, Citigroup reissued a “market perform” rating on shares of Adobe in a research note on Friday, June 12th. Six analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $275.00.

Insiders Place Their Bets

In other news, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the transaction, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. The trade was a 17.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 over the last three months. Company insiders own 0.20% of the company’s stock.

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.