Adobe Inc. $ADBE Shares Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 47.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,846 shares of the software company’s stock after purchasing an additional 7,993 shares during the period. BTC Capital Management Inc.’s holdings in Adobe were worth $6,041,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Davis Investment Partners LLC boosted its position in Adobe by 12.4% during the first quarter. Davis Investment Partners LLC now owns 2,007 shares of the software company’s stock worth $488,000 after purchasing an additional 222 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of Adobe during the first quarter valued at approximately $23,064,000. Banque Cantonale Vaudoise lifted its position in shares of Adobe by 5.9% in the first quarter. Banque Cantonale Vaudoise now owns 21,470 shares of the software company’s stock valued at $5,219,000 after acquiring an additional 1,196 shares in the last quarter. Apella Capital LLC lifted its position in shares of Adobe by 38.7% in the first quarter. Apella Capital LLC now owns 2,107 shares of the software company’s stock valued at $515,000 after acquiring an additional 588 shares in the last quarter. Finally, Hixon Zuercher LLC lifted its holdings in Adobe by 39.6% in the 1st quarter. Hixon Zuercher LLC now owns 12,486 shares of the software company’s stock valued at $3,035,000 after purchasing an additional 3,543 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe Analytics said first-day U.S. online spending for Amazon Prime Day reached $8.3 billion, and it raised its estimate for total four-day retail-event spending to $26.3 billion, up 9% year over year. That supports Adobe’s analytics franchise and reinforces its visibility into consumer commerce trends. Reuters article
• Positive Sentiment: Several commentary pieces argued the recent selloff may be overdone, calling Adobe undervalued or “priced for too much bad news.” One model projected a rebound toward $253 in one quarter and $231 in two quarters, while other analysts highlighted Adobe’s strong cash generation and lower valuation. Benzinga article
• Positive Sentiment: Adobe announced a major expansion of its Creative Agent across Firefly and Creative Cloud, which could help strengthen its AI product lineup and improve customer adoption over time. Yahoo Finance article
• Positive Sentiment: Bearish takeovers of the stock were countered by articles framing Adobe as a “dirt-cheap” tech giant and a potential rebound play after a steep decline, which may be helping limit downside. Motley Fool article
• Neutral Sentiment: Some articles focused on whether Adobe’s freemium strategy and AI transition can reaccelerate growth, but investor skepticism remains high and no clear catalyst has been proven yet. Motley Fool article
• Negative Sentiment: Some analysts warned that margins could deteriorate and that the market is still pricing in substantial AI-related disruption, which keeps pressure on the stock despite its lower valuation. Seeking Alpha article

Analyst Ratings Changes

Several brokerages have recently weighed in on ADBE. Barclays lowered their target price on Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Friday, June 12th. Dbs Bank lowered shares of Adobe from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Oppenheimer reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. TD Cowen cut their target price on shares of Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a research note on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Adobe in a research report on Friday, March 13th. Five research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $278.16.

Adobe Stock Down 0.4%

Shares of NASDAQ ADBE opened at $196.61 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a market cap of $78.15 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.42. The business has a 50-day moving average price of $238.24 and a 200 day moving average price of $271.38. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $392.58.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating 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 business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the previous year, the company posted $5.06 EPS. The company’s quarterly revenue 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 forecast that Adobe Inc. will post 19.8 earnings per share for the current year.

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

Insider Activity

In other news, CFO Daniel Durn sold 1,336 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. The trade was a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $185,918.75. Following the completion of the transaction, the chief accounting officer directly 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 SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 77,091 shares of company stock valued at $18,782,773. Company 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.