California Public Employees Retirement System Sells 15,583 Shares of Adobe Inc. $ADBE

California Public Employees Retirement System trimmed its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,097,690 shares of the software company’s stock after selling 15,583 shares during the period. California Public Employees Retirement System owned about 0.27% of Adobe worth $266,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Willis Investment Counsel raised its position in Adobe by 138.9% in the 4th 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 last quarter. Nicholas Company Inc. boosted its position in Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after acquiring an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after acquiring an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after acquiring an additional 6,426 shares in the last quarter. Finally, True North Advisors LLC raised its holdings in shares of Adobe by 301.1% in the fourth quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after purchasing an additional 4,874 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADBE. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adobe in a research report on Wednesday, June 3rd. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Piper Sandler lowered their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Mizuho dropped their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a report on Friday, June 12th. Finally, Phillip Securities cut Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Six analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Hold” and an average target price of $275.00.

Adobe Stock Up 0.8%

ADBE stock opened at $237.25 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $94.31 billion, a PE ratio of 13.57, a PEG ratio of 0.79 and a beta of 1.43. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $376.16. The business’s 50 day simple moving average is $228.58 and its 200 day simple moving average is $256.19.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the firm posted $5.06 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, research analysts anticipate that Adobe Inc. will post 19.81 EPS for the current year.

Adobe declared that its Board of Directors has authorized a share 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 buy up to 24.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 359,538 shares in the company, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 755 shares of Adobe stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the sale, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by corporate insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Multiple reports highlight Adobe’s attractive valuation, with some investors viewing the selloff as creating a buying opportunity and even raising the possibility that the company could become a takeover target. Is Adobe (ADBE) a Takeover Target? Rumors Are Swirling
• Positive Sentiment: Adobe was compared favorably with Autodesk on revenue trends, with Adobe showing larger scale and consistent quarter-over-quarter growth over the last eight quarters, which supports the case for durable business momentum. Adobe vs. Autodesk: What Revenue Trends Reveal About These Software Stocks
• Positive Sentiment: Several pieces frame Adobe as a potential beneficiary of the market’s reassessment of software stocks, arguing that AI is pressuring recurring-revenue models but that strong companies like Adobe are adapting and may emerge as relative winners. How to Find the Bargains in the Software Stock Wreckage
• Positive Sentiment: Commentary on Adobe’s “compelling valuation” and “generational buying opportunity” suggests investors are increasingly seeing the stock as undervalued despite intensifying competition. Adobe: Compelling Valuation Even Amid Intensifying Competition
• Positive Sentiment: Broader software-sector analysis also points to Adobe as having real competitive moats that AI may not easily replace, reinforcing confidence in the company’s long-term positioning. Alpha Buying: The Real Moats AI Can’t Replace
• Neutral Sentiment: Additional coverage on e-commerce and digital media trends mentions Adobe’s AI-related efforts, including its acquisition of Rephrase.AI, but the article is more about industry innovation than a direct catalyst for the stock. E-Commerce Update – AI Transforming Digital Retail Through Innovation and Connectivity
• Negative Sentiment: One article noted that an open-source browser-based PDF toolkit can replace Adobe Acrobat, highlighting ongoing competitive pressure in one of Adobe’s core product areas. I replaced Adobe Acrobat with a 10x faster, browser-based open-source PDF toolkit

Adobe 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.