Adobe Inc. $ADBE Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 32.7% in the 1st quarter, HoldingsChannel reports. The firm owned 5,820 shares of the software company’s stock after selling 2,830 shares during the period. Cullinan Associates Inc.’s holdings in Adobe were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. Norges Bank purchased a new position in shares of Adobe during the 4th quarter worth approximately $2,275,165,000. Dodge & Cox boosted its stake in shares of Adobe by 8,006.6% in the third quarter. Dodge & Cox now owns 1,593,506 shares of the software company’s stock valued at $562,109,000 after buying an additional 1,573,849 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after buying an additional 920,353 shares in the last quarter. Amundi grew its holdings in Adobe by 17.9% during the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after acquiring an additional 742,646 shares during the period. Finally, J. Stern & Co. LLP raised its position in Adobe by 26,128.1% in the fourth quarter. J. Stern & Co. LLP now owns 652,031 shares of the software company’s stock worth $228,204,000 after acquiring an additional 649,545 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Trending Headlines about 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 Price Performance

Shares of Adobe stock traded up $0.99 on Friday, hitting $223.64. The company’s stock had a trading volume of 3,205,588 shares, compared to its average volume of 7,842,919. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $376.16. 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 firm has a fifty day moving average price of $230.84 and a 200-day moving average price of $260.53. The company has a market capitalization of $88.90 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its 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. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the firm posted $5.06 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts expect that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe declared that its board has authorized a stock buyback plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other Adobe news, CFO Daniel Durn sold 1,336 shares of the business’s 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 transaction, the chief financial officer directly owned 42,833 shares in the company, valued at approximately $10,623,440.66. The trade was a 3.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief accounting officer owned 3,521 shares in the company, valued at $867,046.25. This trade represents a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 over the last quarter. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADBE shares. Summit Redstone set a $350.00 target price on Adobe in a report on Friday, April 17th. Evercore set a $225.00 price target on shares of Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. Citigroup reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Royal Bank Of Canada reduced their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. Finally, BTIG Research began coverage on shares of Adobe in a report on Monday, April 13th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $275.00.

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.