Texas Capital Bank Wealth Management Services Inc Invests $2.31 Million in Adobe Inc. $ADBE

Texas Capital Bank Wealth Management Services Inc acquired a new position in Adobe Inc. (NASDAQ:ADBE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,266 shares of the software company’s stock, valued at approximately $2,310,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. BlackRock Inc. acquired a new stake in shares of Adobe in the second quarter valued at about $8,437,821,000. State Street Corp raised its position in shares of Adobe by 1.7% during the third quarter. State Street Corp now owns 20,632,009 shares of the software company’s stock worth $7,277,941,000 after acquiring an additional 352,448 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Adobe by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company’s stock worth $4,027,170,000 after acquiring an additional 414,049 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Adobe by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company’s stock worth $1,651,066,000 after acquiring an additional 563,772 shares during the period. Finally, Norges Bank bought a new stake in Adobe in the fourth quarter valued at approximately $2,275,165,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 416 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 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 filing with the SEC, which is available through this link. Also, Director David A. Ricks acquired 10,000 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.20% of the company’s stock.

Adobe Stock Down 3.8%

Shares of Adobe stock opened at $254.04 on Tuesday. The stock’s 50-day moving average is $228.82 and its 200 day moving average is $245.32. Adobe Inc. has a one year low of $190.12 and a one year high of $370.86. The firm has a market cap of $100.98 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.89 and a beta of 1.40. 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 (NASDAQ:ADBE) last issued 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 return on equity of 65.11% and a net margin of 28.69%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the company posted $5.06 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Equities research analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe announced that its board has authorized a stock repurchase plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to purchase up to 24.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on ADBE. Dbs Bank downgraded shares of Adobe from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Robert W. Baird dropped their price target on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Wells Fargo & Company reduced their price objective on shares of Adobe from $330.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. DA Davidson decreased their price objective on shares of Adobe from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Finally, Evercore set a $225.00 target price on shares of Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. 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 company’s stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Hold” and a consensus target price of $269.81.

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.