State of Wyoming Acquires New Position in Adobe Inc. $ADBE

State of Wyoming acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 2nd quarter, HoldingsChannel reports. The firm acquired 2,468 shares of the software company’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Western Pacific Wealth Management LP acquired a new position in shares of Adobe during the 4th quarter worth $26,000. Measured Wealth Private Client Group LLC acquired a new position in Adobe during the third quarter worth about $26,000. TrustBank acquired a new position in Adobe during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. bought a new position in shares of Adobe in the fourth quarter worth about $31,000. Finally, Sankala Group LLC acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADBE. Dbs Bank lowered shares of Adobe from a “moderate buy” rating to a “hold” rating in a report on Tuesday, May 19th. Bank of America restated an “underperform” rating and issued a $190.00 target price on shares of Adobe in a research report on Tuesday, July 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (down from $350.00) on shares of Adobe in a research note on Friday, June 12th. Evercore set a $225.00 price target on shares of Adobe and gave the stock an “in-line” rating in a report on Friday, June 12th. Finally, UBS Group cut Adobe from a “buy” rating to an “equal weight” rating in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $269.81.

Adobe Stock Down 3.8%

Shares of NASDAQ ADBE opened at $254.04 on Tuesday. The company has a 50 day simple moving average of $228.82 and a 200 day simple moving average of $245.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a 1 year low of $190.12 and a 1 year high of $370.86. The firm has a market cap of $100.98 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last posted 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. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the firm posted $5.06 EPS. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, research analysts forecast that Adobe Inc. will post 19.81 EPS for the current year.

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

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total transaction of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at $1,010,797.92. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Ricks bought 10,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.20% of the company’s stock.

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.