Adobe Inc. $ADBE Shares Sold by CastleKnight Management LP

CastleKnight Management LP reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,700 shares of the software company’s stock after selling 8,400 shares during the quarter. CastleKnight Management LP’s holdings in Adobe were worth $5,145,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADBE. Norges Bank acquired a new position in Adobe in the fourth quarter valued at $2,275,165,000. Arrowstreet Capital Limited Partnership increased its stake in Adobe by 53.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company’s stock valued at $1,981,448,000 after purchasing an additional 1,952,994 shares during the last quarter. Dodge & Cox increased its stake in 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 purchasing an additional 1,573,849 shares during the last quarter. AQR Capital Management LLC increased its stake in 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 purchasing an additional 920,353 shares during the last quarter. Finally, Amundi increased its stake in Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock valued at $1,711,583,000 after purchasing an additional 742,646 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer owned 3,521 shares of the company’s stock, valued at $867,046.25. This represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 42,833 shares of the company’s stock, valued at $10,623,440.66. The trade was a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 77,091 shares of company stock valued at $18,782,773. Company insiders own 0.20% of the company’s stock.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe announced Adobe Brand Visibility and new GenStudio for Commerce Media Networks tools, aimed at helping companies stay visible, trusted, and on-brand across AI-driven search and shopping surfaces. Introducing Adobe Brand Visibility: A Unified Solution for the AI Search Era
• Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, reinforcing Adobe’s role in AI education and enterprise workflow adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
• Positive Sentiment: Multiple commentary pieces highlighted Adobe as a potentially undervalued software name after the selloff, suggesting some investors see the pullback as a buying opportunity. Microsoft vs. Adobe: Which High ROIC Software Stock is the Best Buy-the-Dip Target?
• Neutral Sentiment: Adobe executives discussed how AI is changing brand discovery and online visibility, which supports the company’s AI narrative but does not yet translate into immediate financial results. How AI is Changing the Branding Game: Integrating AI Optimization & Trust
• Negative Sentiment: Investor sentiment remains weak after reports about the surprise departure of Adobe’s CFO and broader concerns about slowing spend and softer AI credit demand. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.
• Negative Sentiment: Jim Cramer struck a bearish tone on Adobe, pointing to the CEO resignation and CFO change as reasons he does not want investors in the stock right now. Jim Cramer on Adobe: “I Don’t Want You in It”

Adobe Price Performance

ADBE stock opened at $196.28 on Thursday. The stock has a 50-day moving average price of $242.14 and a two-hundred day moving average price of $275.90. Adobe Inc. has a 12-month low of $195.02 and a 12-month high of $392.58. The company has a current ratio of 0.75, a quick ratio of 0.91 and a debt-to-equity ratio of 0.42. The company has a market cap of $78.02 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.72 and a beta of 1.42.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the previous year, the business earned $5.06 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. 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, research analysts predict that Adobe Inc. will post 19.79 EPS for the current year.

Adobe announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to buy up to 24.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on the company. TD Cowen dropped their target price on Adobe from $310.00 to $285.00 and set a “hold” rating for the company in a research note on Monday, June 8th. UBS Group set a $365.00 target price on Adobe in a research note on Friday, June 12th. Mizuho dropped their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research note on Friday, June 12th. The Goldman Sachs Group lowered their price target on Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a research report on Friday, June 12th. Finally, Citigroup reissued a “market perform” rating on shares of Adobe in a research report on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $278.16.

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.