Thrivent Financial for Lutherans Has $24.32 Million Stock Holdings in Adobe Inc. $ADBE

Thrivent Financial for Lutherans boosted its position in Adobe Inc. (NASDAQ:ADBE) by 86.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,939 shares of the software company’s stock after acquiring an additional 32,027 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Adobe were worth $24,319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Norges Bank bought a new stake in shares of Adobe during the 2nd quarter worth $2,029,950,000. Franklin Resources Inc. raised its stake in Adobe by 68.9% during the second quarter. Franklin Resources Inc. now owns 1,939,018 shares of the software company’s stock worth $750,168,000 after acquiring an additional 791,077 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Adobe by 218.5% in the second quarter. Acadian Asset Management LLC now owns 1,073,899 shares of the software company’s stock worth $415,434,000 after acquiring an additional 736,682 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Adobe by 16.1% in the 2nd quarter. Invesco Ltd. now owns 4,407,162 shares of the software company’s stock valued at $1,705,043,000 after purchasing an additional 610,215 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Adobe by 185.1% during the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock valued at $316,913,000 after purchasing an additional 583,275 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the transaction, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Semrush shareholders approved the merger agreement with Adobe — the deal (SEO/marketing analytics) is expected to broaden Adobe’s marketing and data capabilities and create cross-sell opportunities for Experience Cloud customers. Semrush Shareholders Approve Merger Agreement with Adobe
• Positive Sentiment: Adobe is offering unlimited generations in its Firefly AI studio through March 16 — a product push that can accelerate user adoption of paid AI workflows and help defend share vs. competitors. Adobe Firefly Unlimited AI Generations
• Positive Sentiment: Some outlets still rate ADBE as a buy with sizable upside in models — this underpins longer-term bullish analyst conviction despite near-term pressure. Adobe Inc. (ADBE) a Moderate Buy, Analysts See 52% Upside
• Neutral Sentiment: Reported short-interest metrics are effectively meaningless/flat in recent tallies (no material change), so short squeezes are not a driver today.
• Neutral Sentiment: Comparisons to new Apple creative tools note competitive dynamics but conclude Apple isn’t yet an Adobe killer — a watch item for market share over time. Apple’s Creator Studio offers value, but is far from an Adobe killer
• Negative Sentiment: Adobe announced it will discontinue Adobe Animate (shutting down March 1), provoking customer backlash — a PR hit and potential churn in niche creator communities that may pressure sentiment. Adobe Animate is shutting down as company focuses on AI
• Negative Sentiment: Multiple firms have cut price targets or downgraded ADBE recently (UBS, Baird, BMO), which weighs on investor sentiment and reduces near-term analyst support. UBS, Baird Lower PT on Adobe (ADBE), BMO Capital Downgrades to Market Perform
• Negative Sentiment: Broader tech weakness and competitive moves (including Apple’s new bundle) have driven ADBE toward technical support/52-week lows as investors await Q1 guidance and execution proof. What’s Going On With Adobe Stock Tuesday?

Adobe Stock Down 7.3%

Shares of NASDAQ ADBE opened at $271.93 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The firm has a market cap of $111.63 billion, a PE ratio of 16.27, a P/E/G ratio of 1.15 and a beta of 1.51. The company’s fifty day simple moving average is $327.29 and its 200 day simple moving average is $340.48. Adobe Inc. has a 12-month low of $271.02 and a 12-month high of $465.70.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ADBE shares. Oppenheimer downgraded shares of Adobe from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 13th. Jefferies Financial Group cut Adobe from a “buy” rating to a “hold” rating and dropped their price target for the company from $500.00 to $400.00 in a research note on Monday, January 5th. Barclays reissued an “overweight” rating and set a $415.00 price objective on shares of Adobe in a report on Friday, December 5th. Wolfe Research lowered their target price on Adobe from $450.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Finally, Robert W. Baird set a $350.00 price target on Adobe in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $391.81.

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.