Waverly Advisors LLC Has $7.21 Million Stake in Adobe Inc. $ADBE

Waverly Advisors LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 9.4% during the first quarter, HoldingsChannel.com reports. The firm owned 29,660 shares of the software company’s stock after selling 3,061 shares during the quarter. Waverly Advisors LLC’s holdings in Adobe were worth $7,210,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $2,275,165,000. AQR Capital Management LLC boosted its holdings in Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after purchasing an additional 920,353 shares during the last quarter. Amundi grew its position in Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after purchasing an additional 742,646 shares in the last quarter. State of Michigan Retirement System grew its position in Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after purchasing an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new position in Adobe in the first quarter valued at $167,494,000. 81.79% of the stock is currently owned by institutional investors.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 755 shares of the company’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 value of $185,918.75. Following the sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.20% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $237.75 on Tuesday. The firm has a market capitalization of $94.51 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $226.42 and its two-hundred day moving average price is $250.59. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $376.16.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion during 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%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $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 anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its board has authorized a share repurchase program on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several analyst reports. Bank of America reissued an “underperform” rating and set a $190.00 price target on shares of Adobe in a research report on Tuesday, July 7th. CLSA began coverage on Adobe in a report on Monday, July 20th. They issued an “outperform” rating and a $300.00 price objective for the company. Summit Redstone set a $350.00 target price on Adobe in a research report on Friday, April 17th. Royal Bank Of Canada dropped their target price on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Finally, Robert W. Baird reduced their price target on Adobe from $270.00 to $230.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $271.30.

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.