Lee Danner & Bass Inc. Lowers Stock Holdings in Adobe Inc. $ADBE

Lee Danner & Bass Inc. reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,385 shares of the software company’s stock after selling 2,490 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Adobe were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Norges Bank bought a new stake in Adobe in the fourth quarter worth $2,275,165,000. Arrowstreet Capital Limited Partnership boosted its stake in Adobe by 53.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock worth $1,981,448,000 after purchasing an additional 1,952,994 shares in the last quarter. Dodge & Cox grew its position in Adobe by 8,006.6% during the 3rd quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock valued at $562,109,000 after purchasing an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC increased its stake in Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Finally, Amundi increased its stake in Adobe by 17.9% during the 3rd 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. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. This trade represents a 17.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction 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 completion of the sale, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at $10,623,440.66. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 77,091 shares of company stock worth $18,782,773. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

ADBE has been the topic of several analyst reports. Robert W. Baird dropped their target price on shares of Adobe from $270.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Adobe in a research report on Friday, March 13th. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Dbs Bank downgraded Adobe from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Piper Sandler reduced their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $278.40.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $219.72 on Monday. The firm’s 50-day moving average price is $232.91 and its 200-day moving average price is $264.53. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $386.60. The company has a market cap of $87.34 billion, a PE ratio of 12.57, a PEG ratio of 0.77 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $5.06 earnings per share. 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 anticipate that Adobe Inc. will post 19.8 EPS for the current year.

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

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy and said AI concerns have created an overly pessimistic valuation, helping fuel a rally in the stock. This Adobe analyst is going against the grain by telling investors to buy the stock
• Positive Sentiment: Adobe is expanding its AI push with Firefly Foundry and a broader freemium funnel, which could increase adoption of its creative tools and support longer-term growth. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: An insider reportedly increased his Adobe stake by 130%, signaling internal confidence in the company’s turnaround and AI strategy. 1 Adobe Insider Just Boosted His Stake by 130%. Why He Is Betting Big on ADBE Right Now.
• Neutral Sentiment: Several articles highlighted Adobe as a long-term value or “best SaaS stock” idea, but these were largely opinion pieces rather than new fundamental updates. Why Adobe Systems (ADBE) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Commentary from analysts and investors continued to debate whether Adobe’s growth is slowing or whether the market is underestimating its resilience against AI disruption. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)
• Negative Sentiment: Phillip Securities downgraded Adobe to Neutral from Buy and cut its price target sharply, reflecting concern that growth may slow even as legacy software remains durable. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

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.