Adobe Inc. $ADBE Shares Acquired by Westpac Banking Corp

Westpac Banking Corp lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 16.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,386 shares of the software company’s stock after purchasing an additional 4,597 shares during the period. Westpac Banking Corp’s holdings in Adobe were worth $8,115,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ADBE. Brighton Jones LLC raised its holdings 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 acquiring an additional 167 shares during the period. Sivia Capital Partners LLC boosted its stake in Adobe by 25.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after purchasing an additional 486 shares during the period. United Bank boosted its stake in Adobe by 12.8% in the 2nd quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after purchasing an additional 428 shares during the period. Schnieders Capital Management LLC. grew its position in Adobe by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock worth $1,017,000 after purchasing an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Adobe by 190.6% during 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 in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 3.2%

Adobe stock opened at $227.16 on Wednesday. The company’s fifty day simple moving average is $228.08 and its 200-day simple moving average is $253.81. 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 Inc. has a 12 month low of $190.12 and a 12 month high of $376.16. The stock has a market cap of $90.30 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.79 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. Adobe’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $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. As a group, sell-side analysts forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe announced that its board has initiated a share buyback plan on Tuesday, April 21st that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

ADBE has been the subject of a number of research analyst reports. DA Davidson reduced their target price on Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a report on Friday, June 12th. Evercore set a $225.00 price target on Adobe and gave the company an “in-line” rating in a report on Friday, June 12th. UBS Group lowered Adobe from a “buy” rating to an “equal weight” rating in a research report on Tuesday. Bank of America reissued an “underperform” rating and issued a $190.00 price objective on shares of Adobe in a research note on Tuesday, July 7th. Finally, BTIG Research initiated coverage on Adobe in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $271.30.

Insiders Place Their Bets

In other news, Director David A. Ricks bought 10,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost 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. This trade represents a 130.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the sale, the chief executive officer directly owned 359,538 shares of the company’s stock, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.20% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Negative Sentiment: Morgan Stanley lowered Adobe to Underweight, saying multiple strategic transitions are happening at once and that AI disruption could make it harder for the company to reaccelerate growth. Adobe stock has been crushed by AI fears. Now Morgan Stanley has cut its rating to underweight
• Negative Sentiment: More Wall Street downgrades and commentary around Adobe’s AI exposure are adding to the selling pressure, with some analysts saying peers may offer cleaner AI monetization and faster growth. ADBE Stock Drops After Morgan Stanley Downgrade – Sees ‘Cleaner Growth And AI Monetization Elsewhere’
• Neutral Sentiment: Adobe continues to push into AI with new features in its experimental Project Indigo camera app, highlighting that it is still investing in product innovation even as investors worry about competitive threats. Adobe crams multiple AI tools into its experimental camera app
• Neutral Sentiment: Some coverage argues Adobe still looks attractive on valuation and that one analyst sees meaningful upside from current levels, but that view is being outweighed today by broader AI-related concern. ADBE stock is falling again but here’s why one Wall Street analyst sees a 31% upside

Adobe 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.