Allstate Corp Purchases 14,782 Shares of Adobe Inc. $ADBE

Allstate Corp lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1,857.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,578 shares of the software company’s stock after purchasing an additional 14,782 shares during the period. Allstate Corp’s holdings in Adobe were worth $5,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. LSV Asset Management lifted its stake in shares of Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after purchasing an additional 56 shares during the period. Nexus Investment Management ULC bought a new position in Adobe in the 2nd quarter valued at about $31,000. Horizon Financial Services LLC raised its position in Adobe by 4,000.0% in the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock valued at $32,000 after buying an additional 80 shares during the last quarter. Total Investment Management Inc. purchased a new position in Adobe during the second quarter worth about $35,000. Finally, Howard Hughes Medical Institute bought a new stake in Adobe during the second quarter worth $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the sale, the chief accounting officer owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

ADBE stock opened at $296.12 on Monday. Adobe Inc. has a twelve month low of $295.42 and a twelve month high of $465.70. The firm has a market cap of $123.96 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.17 and a beta of 1.53. The business’s fifty day simple moving average is $334.75 and its two-hundred day simple moving average is $346.95. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.11 billion. During the same period in the prior year, the firm earned $4.81 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. DA Davidson reissued a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Thursday, December 11th. Barclays reiterated an “overweight” rating and issued a $415.00 price objective on shares of Adobe in a research note on Friday, December 5th. Stifel Nicolaus cut their price target on Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. Citigroup lifted their price target on Adobe from $366.00 to $387.00 and gave the company a “neutral” rating in a research report on Wednesday, December 17th. Finally, BMO Capital Markets lowered Adobe from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $400.00 to $375.00 in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Hold” and a consensus price target of $402.85.

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.