Sanctuary Advisors LLC Takes Position in Adobe Inc. $ADBE

Sanctuary Advisors LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 29,551 shares of the software company’s stock, valued at approximately $6,058,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Biondo Investment Advisors LLC bought a new stake in Adobe in the 2nd quarter valued at about $2,647,000. Saranac Partners Ltd acquired a new position in Adobe during the 2nd quarter worth approximately $797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Adobe in the second quarter worth approximately $727,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in Adobe in the second quarter worth approximately $540,000. Finally, Te Ahumairangi Investment Management Ltd acquired a new stake in Adobe in the second quarter valued at approximately $5,936,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Performance

Shares of Adobe stock opened at $276.27 on Tuesday. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $370.86. 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 business has a 50 day moving average price of $234.01 and a 200-day moving average price of $244.68. The company has a market cap of $109.82 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter in the previous year, the firm earned $5.06 earnings per share. Adobe’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 analysts anticipate that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ADBE shares. TD Cowen decreased their price objective on Adobe from $310.00 to $285.00 and set a “hold” rating for the company in a report on Monday, June 8th. KeyCorp cut their target price on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a report on Friday, June 12th. Sanford C. Bernstein reduced their price target on shares of Adobe from $447.00 to $379.00 and set an “outperform” rating for the company in a research report on Friday, June 12th. Piper Sandler decreased their price target on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. Finally, Royal Bank Of Canada lowered their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Seven investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $270.96.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction 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 transaction, the chief accounting officer directly owned 3,824 shares of the company’s stock, valued at $1,010,797.92. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the purchase, the director owned 17,655 shares in the company, valued at approximately $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. 0.20% of the stock is owned by insiders.

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.