Teachers Retirement System of The State of Kentucky Has $8.07 Million Stake in Adobe Inc. $ADBE

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 76.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,203 shares of the software company’s stock after selling 110,294 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Adobe were worth $8,071,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. SWAN Capital LLC grew its holdings in Adobe by 43.1% during the 3rd quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock worth $36,000 after acquiring an additional 31 shares during the period. Logan Capital Management Inc. lifted its stake in shares of Adobe by 0.3% in the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock valued at $3,453,000 after purchasing an additional 32 shares during the period. Peoples Bank KS boosted its position in shares of Adobe by 1.6% in the 4th quarter. Peoples Bank KS now owns 2,041 shares of the software company’s stock worth $714,000 after purchasing an additional 33 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Adobe by 16.1% during the fourth quarter. Rosenberg Matthew Hamilton now owns 245 shares of the software company’s stock worth $86,000 after purchasing an additional 34 shares during the period. Finally, Marquette Asset Management LLC grew its stake in shares of Adobe by 72.3% during the fourth quarter. Marquette Asset Management LLC now owns 81 shares of the software company’s stock worth $28,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen cut their target price on Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a research note on Monday, June 8th. UBS Group set a $365.00 target price on Adobe in a research report on Friday, June 12th. Wall Street Zen downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Royal Bank Of Canada decreased their price objective on shares of Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, June 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Adobe from $420.00 to $340.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $275.00.

Insider Transactions at Adobe

In other news, Director David A. Ricks acquired 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The stock was bought at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the transaction, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares of the company’s stock, valued at approximately $10,623,440.66. The trade was a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 77,091 shares of company stock valued at $18,782,773 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Adobe Stock Up 3.1%

Adobe stock opened at $230.61 on Tuesday. Adobe Inc. has a twelve month low of $190.12 and a twelve month high of $376.16. 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 company has a 50 day moving average of $230.53 and a 200-day moving average of $258.99. The stock has a market capitalization of $91.67 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, beating the consensus estimate of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.06 EPS. 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, equities research analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Adobe declared that its Board of Directors has approved a stock buyback program on Tuesday, April 21st that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.