Welch & Forbes LLC Sells 63,022 Shares of Adobe Inc. $ADBE

Welch & Forbes LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 84.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 12,033 shares of the software company’s stock after selling 63,022 shares during the quarter. Welch & Forbes LLC’s holdings in Adobe were worth $2,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after buying an additional 167 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Adobe by 25.5% during the second quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company’s stock worth $926,000 after acquiring an additional 486 shares during the last quarter. United Bank boosted its position in shares of Adobe by 12.8% during the second quarter. United Bank now owns 3,773 shares of the software company’s stock worth $1,460,000 after acquiring an additional 428 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in Adobe by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company’s stock valued at $1,017,000 after acquiring an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Adobe by 190.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company’s stock valued at $1,069,000 after acquiring an additional 1,813 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity

In other news, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel Durn sold 1,336 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the sale, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 77,091 shares of company stock worth $18,782,773. Insiders own 0.20% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $223.64 on Monday. The stock has a market cap of $88.90 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day moving average price of $230.84 and a 200-day moving average price of $259.85. Adobe Inc. has a one year low of $190.12 and a one year high of $376.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results 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 company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.Adobe’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.06 EPS. 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 expect that Adobe Inc. will post 19.8 EPS for the current year.

Adobe announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 21st that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to repurchase up to 24.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Oppenheimer reissued a “market perform” rating on shares of Adobe in a report on Friday, June 12th. KeyCorp reduced 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. Royal Bank Of Canada decreased their target price on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Dbs Bank cut Adobe from a “moderate buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Evercore set a $225.00 price objective on Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $275.00.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s planned acquisition of Topaz Labs could strengthen its generative AI and video/image editing tools, supporting long-term product differentiation and monetization. Adobe (ADBE) to Acquire Topaz Labs
• Positive Sentiment: Another recent analysis highlighted Adobe’s acquisition of Rephrase.AI as a way to bolster generative AI video capabilities for e-commerce, which could broaden Adobe’s addressable market and improve growth prospects. Adobe’s Strategic Acquisition of Rephrase.AI to Bolster Generative AI Video Capabilities for E-commerce
• Neutral Sentiment: Market commentary from Seeking Alpha and other outlets suggested the stock may be oversold or viewed as a comeback candidate, but these were opinion pieces rather than new fundamentals. Adobe: Market Overreaction Creates A Highly Asymmetric Risk-Reward Opportunity
• Neutral Sentiment: Short-interest data showed no meaningful shares outstanding to short, so it does not appear to be adding real trading pressure or changing the investment case.
• Negative Sentiment: Bank of America reportedly downgraded Adobe to Underperform, arguing that AI tools could pressure Adobe’s growth rather than accelerate it, reinforcing investor concerns about competitive disruption. Bank of America Says AI Will Drag Down Adobe Stock
• Negative Sentiment: Additional headlines about users canceling Adobe Acrobat for cheaper alternatives may add to the narrative that pricing pressure and product substitution remain risks for the company.

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.