2,367 Adobe Inc. $ADBE Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its position in Adobe Inc. (NASDAQ:ADBE) by 10.8% in the third quarter, HoldingsChannel.com reports. The fund owned 24,346 shares of the software company’s stock after buying an additional 2,367 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Adobe were worth $5,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. lifted its position in shares of Adobe by 185.7% during the third quarter. Investment Research & Advisory Group Inc. now owns 100 shares of the software company’s stock worth $25,000 after purchasing an additional 65 shares in the last quarter. Dunhill Financial LLC bought a new position in Adobe in the 2nd quarter valued at $95,000. Latitude Advisors LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at $29,000. North Point Portfolio Managers Corp OH acquired a new stake in shares of Adobe in the 3rd quarter valued at $30,000. Finally, Bullock Wealth Management Group raised its position in shares of Adobe by 468.2% during the third quarter. Bullock Wealth Management Group now owns 125 shares of the software company’s stock worth $30,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Trending Headlines about Adobe

Here are a few of the latest headlines about ADBE:

• Positive Sentiment: Adobe expanded its Google partnership, bringing Acrobat features into Google Workspace and integrating Google AI models into Adobe products. Wider distribution and deeper workflow integration could help Adobe defend and extend its customer reach. Adobe expands its AI partnership and workspace reach
• Positive Sentiment: RBC reaffirmed its Outperform rating and set a $315 price target, implying substantial upside from the supplied $238.54 reference price. Royal Bank of Canada rating
• Negative Sentiment: Citi’s “hard reset” concerns point to investor uncertainty about how quickly opening flagship apps to external agents will pay off. Other coverage says Adobe is down about 31% this year and notes recent price-target cuts, adding pressure despite the product news. Citi flags a hard reset Adobe is down about 31% this year

Insider Activity

In related news, CEO Shantanu Narayen sold 74,500 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $251.56, for a total transaction of $18,741,220.00. Following the completion of the sale, the chief executive officer directly owned 289,224 shares of the company’s stock, valued at approximately $72,757,189.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADBE shares. Robert W. Baird upped their price target on Adobe from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Stifel Nicolaus boosted their price objective on Adobe from $200.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings upgraded shares of Adobe from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, September 1st. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Adobe in a research note on Friday, September 11th. Nine investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and an average target price of $282.52.

Adobe Trading Up 0.4%

ADBE opened at $238.54 on Friday. The firm’s fifty day moving average is $247.24 and its two-hundred day moving average is $248.37. The firm has a market cap of $92.84 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $362.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.77 and a current ratio of 0.77.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 10th. The software company reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.05. Adobe had a net margin of 28.05% and a return on equity of 65.65%. The company had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.69 billion. During the same quarter in the previous year, the business earned $5.31 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. Adobe has set its Q4 2026 guidance at 6.300-6.350 EPS and its FY 2026 guidance at 24.450-24.500 EPS. Equities research analysts anticipate that Adobe Inc. will post 20.01 EPS for the current year.

Adobe Profile

Adobe Inc. develops software and services for creating, managing and delivering digital content. Its products serve creative professionals, businesses, marketers and individual users around the world. Adobe’s Digital Media offerings include Creative Cloud applications such as Photoshop, Illustrator, Premiere Pro and InDesign, along with Acrobat tools for creating, editing and signing PDF documents. The company also provides generative AI capabilities through Adobe Firefly and related features in its creative products.