Adobe Inc. $ADBE Stock Position Trimmed by Fortis Capital Management LLC

Fortis Capital Management LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 14.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,864 shares of the software company’s stock after selling 2,925 shares during the period. Fortis Capital Management LLC’s holdings in Adobe were worth $4,099,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADBE. Willis Investment Counsel raised its stake in shares of Adobe by 138.9% in the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after buying an additional 23,671 shares in the last quarter. Nicholas Company Inc. boosted its position in shares of Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after purchasing an additional 12,400 shares in the last quarter. Teacher Retirement System of Texas grew its position in Adobe by 13.4% in the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after buying an additional 25,435 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Adobe by 13.2% in the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after acquiring an additional 6,426 shares during the last quarter. Finally, True North Advisors LLC lifted its position in shares of Adobe by 301.1% in the 4th quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after acquiring an additional 4,874 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent research reports. William Blair cut shares of Adobe from an “outperform” rating to a “market perform” rating in a report on Thursday, March 26th. JPMorgan Chase & Co. decreased their price target on Adobe from $420.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. UBS Group cut Adobe from a “buy” rating to an “equal weight” rating in a research report on Tuesday. Bank of America restated an “underperform” rating and set a $190.00 target price on shares of Adobe in a report on Tuesday, July 7th. Finally, Jefferies Financial Group dropped their target price on Adobe from $290.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Adobe has an average rating of “Hold” and a consensus price target of $271.30.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total value of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 10,000 shares of Adobe stock in a transaction that occurred 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 completion of the transaction, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. The trade was a 130.63% increase in their position. The SEC filing for this purchase provides additional information. 0.20% of the stock is owned by insiders.

Key Stories Impacting Adobe

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 Trading Down 3.2%

Shares of NASDAQ:ADBE opened at $227.16 on Wednesday. The firm has a market cap of $90.30 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.79 and a beta of 1.43. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $376.16. 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 (NASDAQ:ADBE) last announced its 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 firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company’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 earned $5.06 EPS. 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, research analysts forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe declared that its board has authorized a stock repurchase plan on Tuesday, April 21st that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are 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.