Thornburg Investment Management Inc. Grows Position in Adobe Inc. $ADBE

Thornburg Investment Management Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 55.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 269,807 shares of the software company’s stock after purchasing an additional 96,292 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Adobe were worth $55,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Adobe during the second quarter valued at $8,437,821,000. State Street Corp boosted its holdings in shares of Adobe by 1.7% during the 3rd quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock valued at $7,277,941,000 after buying an additional 352,448 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Adobe by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company’s stock worth $4,027,170,000 after buying an additional 414,049 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Adobe by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company’s stock worth $1,651,066,000 after buying an additional 563,772 shares during the period. Finally, Norges Bank bought a new position in shares of Adobe in the 4th quarter worth about $2,275,165,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 416 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks acquired 10,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.20% of the stock is currently owned by corporate insiders.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s stock broke above technical resistance near $275 and $285 and reclaimed key moving averages. Analysts identified potential upside targets around $306.30 and $330.61, while a developing “golden cross” pattern is supporting bullish momentum ahead of the company’s upcoming earnings report. Adobe Stock Breakout Targets $306, Then $330 as ADBE Reverses
• Positive Sentiment: Strong results and guidance remain a fundamental support. Adobe’s latest quarter exceeded consensus estimates for both earnings and revenue, with revenue up 12.7% year over year; management’s fiscal 2026 EPS guidance is $24.35–$24.45.
• Positive Sentiment: Adobe is expanding AI capabilities across Photoshop, Firefly, Acrobat and Adobe Express. Photoshop’s optional prompt-based AI editing mode could improve product engagement and reinforce Adobe’s competitive position in creative software. Adobe Photoshop Adds a Whole New AI Editing Mode
• Positive Sentiment: An expanded, multiyear partnership with Stagwell will integrate Adobe’s data intelligence, creative transformation and AI tools into enterprise marketing initiatives, potentially supporting customer acquisition and retention. Stagwell Expands Strategic Partnership with Adobe
• Neutral Sentiment: Adobe benefited from a broader enterprise-software rally after Salesforce reported strong results, raised guidance and announced an Anthropic partnership. The move is a sector read-through rather than an Adobe-specific financial update. Salesforce Soars as Enterprise Software Rebounds
• Negative Sentiment: A comparison with Shopify suggests Adobe is lagging in AI-driven ecommerce, where Shopify is benefiting from faster gross merchandise volume growth, greater payments adoption and expanding agentic-commerce capabilities. This may raise concerns about Adobe’s relative growth opportunities outside its core creative and document franchises. SHOP vs. ADBE: Which Stock Has the Edge in AI-Driven Ecommerce?

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. Phillip Securities cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Barclays cut their price objective on shares of Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, June 12th. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 target price (down from $350.00) on shares of Adobe in a report on Friday, June 12th. Bank of America lifted their target price on shares of Adobe from $190.00 to $220.00 and gave the company an “underperform” rating in a report on Wednesday, August 19th. Finally, Morgan Stanley downgraded Adobe from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $365.00 to $240.00 in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $270.96.

Adobe Price Performance

ADBE opened at $291.52 on Friday. The company’s 50-day simple moving average is $240.67 and its two-hundred day simple moving average is $245.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $115.88 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.98 and a beta of 1.40. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $370.86.

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

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.