Resona Asset Management Co. Ltd. Decreases Holdings in Adobe Inc. $ADBE

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 300,858 shares of the software company’s stock after selling 6,914 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Adobe were worth $105,542,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP purchased a new position in Adobe in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new position in Adobe in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in Adobe in the 3rd quarter valued at about $27,000. Caitlin John LLC purchased a new position in Adobe in the 3rd quarter valued at about $28,000. Finally, Beacon Financial Strategies CORP purchased a new position in Adobe in the 4th quarter valued at about $28,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ADBE shares. Mizuho reissued a “neutral” rating and issued a $270.00 price objective (down from $315.00) on shares of Adobe in a research report on Monday, April 27th. Citigroup reissued a “neutral” rating on shares of Adobe in a research report on Friday, April 10th. Oppenheimer reissued a “market perform” rating on shares of Adobe in a research report on Friday, March 13th. The Goldman Sachs Group decreased their price objective on shares of Adobe from $290.00 to $220.00 and set a “sell” rating for the company in a research report on Friday, March 13th. Finally, Argus reissued a “hold” rating on shares of Adobe in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus price target of $338.15.

Insider Activity

In other news, CEO Shantanu Narayen sold 75,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were 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 owned 42,833 shares in the company, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of Adobe stock opened at $255.64 on Tuesday. The firm has a market cap of $103.33 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The firm’s 50-day simple moving average is $247.40 and its 200-day simple moving average is $289.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95.

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

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

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.