Global Retirement Partners LLC Purchases Shares of 6,113 Adobe Inc. $ADBE

Global Retirement Partners LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,113 shares of the software company’s stock, valued at approximately $1,253,000.

Other institutional investors have also recently bought and sold shares of the company. Western Pacific Wealth Management LP bought a new stake in Adobe in the 4th quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Adobe in the 3rd quarter worth about $26,000. TrustBank acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of Adobe during the 4th quarter valued at $31,000. Finally, Sankala Group LLC bought a new stake in Adobe during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, Director David A. Ricks bought 10,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 416 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer owned 3,824 shares in the company, valued at $1,010,797.92. The trade was a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADBE shares. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. The Goldman Sachs Group reduced their target price on shares of Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a report on Friday, June 12th. Mizuho reduced their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Royal Bank Of Canada dropped their target price 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. Finally, Evercore set a $225.00 target price on Adobe and gave the stock an “in-line” rating in a report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $269.81.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $254.04 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock has a market cap of $100.98 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.40. The stock’s fifty day simple moving average is $228.82 and its two-hundred day simple moving average is $245.32. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $370.86.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 EPS 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 company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the company posted $5.06 earnings per share. 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. As a group, analysts forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.