Bank of Nova Scotia Has $43.09 Million Position in Adobe Inc. $ADBE

Bank of Nova Scotia lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 43.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,266 shares of the software company’s stock after selling 134,495 shares during the quarter. Bank of Nova Scotia’s holdings in Adobe were worth $43,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Willis Investment Counsel lifted its stake in Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock valued at $14,250,000 after buying an additional 23,671 shares during the period. Nicholas Company Inc. lifted its stake in Adobe by 7.6% in the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock valued at $61,117,000 after buying an additional 12,400 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Adobe by 13.4% in the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after buying an additional 25,435 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of Adobe by 13.2% in the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after buying an additional 6,426 shares during the period. Finally, True North Advisors LLC increased its position in shares of Adobe by 301.1% during the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock worth $2,273,000 after acquiring an additional 4,874 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe (NASDAQ:ADBE) Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. HSBC raised shares of Adobe from a “hold” rating to a “buy” rating and boosted their price objective for the company from $282.00 to $308.00 in a research report on Thursday, July 2nd. Wolfe Research lowered Adobe from an “outperform” rating to a “peer perform” rating in a report on Friday, June 12th. Mizuho reduced their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a research report on Friday, June 12th. Bank of America reiterated an “underperform” rating and set a $190.00 price objective on shares of Adobe in a report on Tuesday, July 7th. Finally, DA Davidson dropped their target price on Adobe from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $271.30.

Adobe Price Performance

ADBE stock opened at $225.11 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a market cap of $89.48 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.71 and a beta of 1.43. The company’s 50-day moving average price is $226.78 and its two-hundred day moving average price is $251.84. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $376.16.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the firm posted $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. On average, analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Adobe

In related news, Director David A. Ricks purchased 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, for a total transaction of $1,945,100.00. Following the purchase, the director owned 17,655 shares in the company, valued at approximately $3,434,074.05. This trade represents a 130.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of Adobe stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total transaction of $18,265,500.00. Following the sale, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.20% of the company’s stock.

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.