Janus Henderson Group PLC Cuts Stock Position in Adobe Inc. $ADBE

Janus Henderson Group PLC lessened its position in Adobe Inc. (NASDAQ:ADBE) by 92.2% in the 1st quarter, Holdings Channel reports. The fund owned 53,244 shares of the software company’s stock after selling 627,680 shares during the period. Janus Henderson Group PLC’s holdings in Adobe were worth $12,941,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ADBE. Norges Bank acquired a new stake in Adobe in the fourth quarter valued at $2,275,165,000. AQR Capital Management LLC grew its position in Adobe by 55.2% during the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock worth $912,705,000 after buying an additional 920,353 shares during the period. Amundi increased its holdings 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 buying an additional 742,646 shares in the last quarter. State of Michigan Retirement System increased its holdings in Adobe by 566.1% in the first quarter. State of Michigan Retirement System now owns 820,823 shares of the software company’s stock valued at $199,526,000 after buying an additional 697,600 shares in the last quarter. Finally, AMF Tjanstepension AB acquired a new stake in shares of Adobe during the 1st quarter valued at approximately $167,494,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen decreased their price target on Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a research note on Monday, June 8th. Phillip Securities cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Mizuho decreased their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Summit Redstone set a $350.00 target price on Adobe in a report on Friday, April 17th. Finally, HSBC upgraded Adobe from a “hold” rating to a “buy” rating and raised their price target for the company from $282.00 to $308.00 in a research report on Thursday, July 2nd. Seven investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Hold” and a consensus target price of $271.30.

Insiders Place Their Bets

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

Adobe Trading Up 2.4%

Shares of ADBE opened at $257.49 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $227.16 and a 200-day simple moving average of $247.54. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $370.86. The stock has a market cap of $102.35 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.85 and a beta of 1.40.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous 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 forecast that Adobe Inc. will post 19.81 EPS for the current fiscal year.

Adobe announced that its board has initiated a stock buyback program on Tuesday, April 21st that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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.