ADBE
First Horizon’s Adobe bet got bigger
First Horizon Corp raised its Adobe position by 13.4% in Q4, bringing its stake to 39,470 shares worth about $13.81 million. That’s a pretty loud vote of confidence for a stock that’s been trading like it lost its charger.
The bigger Adobe backdrop
This isn’t happening in a vacuum. Adobe just posted a quarter where it beat Wall Street’s estimates, with EPS of $6.06 on $6.40 billion in revenue, and it also handed investors FY2026 EPS guidance of $23.30 to $23.50. In other words: the fundamentals are doing the awkward little dance, even if the share price is still stuck in the corner.
AI is the new party trick
Adobe also launched the Firefly AI Assistant to keep pushing its Creative Cloud AI monetization story. That matters because Adobe’s whole pitch now is basically: “We’re not just software — we’re the creative suite with an AI upgrade and a very expensive subscription habit.”
What investors should do with this
A bigger institutional position doesn’t guarantee instant upside, but it does tell you where the grown-ups are sniffing around.
- Adobe still has a consensus Hold rating, with an average target around $339.88
- The stock is near multi-year lows, which can be either a bargain bin or a warning label, depending on your mood
- CFO Daniel Durn also sold shares earlier this year, so the tape is sending mixed signals
Big picture: First Horizon buying more Adobe says the market may be underestimating the company’s AI and earnings rebound story — but investors are still waiting for the stock to stop acting like it’s in time-out.