Patten & Patten Inc. TN Has $7.82 Million Stake in Adobe Inc. $ADBE

Patten & Patten Inc. TN lowered its position in Adobe Inc. (NASDAQ:ADBE) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 22,347 shares of the software company’s stock after selling 3,480 shares during the period. Patten & Patten Inc. TN’s holdings in Adobe were worth $7,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wright Investors Service Inc. lifted its position in shares of Adobe by 114.4% in the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock worth $3,499,000 after purchasing an additional 5,293 shares during the period. Federated Hermes Inc. lifted its position in shares of Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock worth $316,913,000 after purchasing an additional 583,275 shares during the period. Willis Investment Counsel lifted its position in shares of Adobe by 138.9% in the 4th quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after purchasing an additional 23,671 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Adobe by 43.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company’s stock worth $38,309,000 after purchasing an additional 32,448 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Adobe by 112.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADBE. TD Cowen dropped their price target on shares of Adobe from $400.00 to $325.00 and set a “hold” rating on the stock in a research report on Tuesday, March 10th. Argus restated a “hold” rating on shares of Adobe in a research report on Monday, March 16th. Mizuho reiterated a “neutral” rating and set a $270.00 target price (down from $315.00) on shares of Adobe in a research report on Monday, April 27th. KeyCorp dropped their target price on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating on the stock in a research report on Friday, March 13th. Finally, BMO Capital Markets dropped their target price on shares of Adobe from $375.00 to $285.00 and set a “market perform” rating on the stock in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Hold” and a consensus target price of $338.15.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe launched a new AI-powered productivity agent aimed at improving PDF creation, sharing, podcast generation, and interactive workflows, reinforcing its push to monetize generative AI across its core software ecosystem. Article Title
• Positive Sentiment: Adobe expanded its Adobe Experience Platform through a collaboration with Alluvium to improve healthcare capacity management, suggesting broader enterprise use cases beyond creative software. Article Title
• Positive Sentiment: Adobe is expanding its India presence with a new office in Noida and a seventh campus, which underscores ongoing investment in AI innovation and international growth capacity. Article Title
• Positive Sentiment: Adobe is using National Small Business Week promotions to highlight Adobe Express, which could support adoption among smaller customers and strengthen its AI-driven creative tools narrative. Article Title
• Neutral Sentiment: Recent commentary says Adobe trades at a relatively low valuation after a steep year-to-date decline, but investor sentiment remains cautious and mixed despite GenAI rollout efforts. Article Title
• Neutral Sentiment: Adobe has also been in the news for a recent pullback after a six-session rally, indicating short-term volatility rather than a clear change in fundamentals. Article Title

Adobe Stock Performance

NASDAQ ADBE opened at $253.04 on Friday. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.00 and a beta of 1.42. The company has a fifty day moving average price of $250.40 and a 200-day moving average price of $295.01.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the business posted $5.08 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, equities research analysts predict that Adobe Inc. will post 19.14 EPS for the current fiscal year.

Adobe declared that its board has authorized a stock 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 reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Adobe

In related news, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the completion of the transaction, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This represents a 17.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the transaction, the chief accounting officer owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock worth $18,782,773 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Adobe 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.