New York State Teachers Retirement System Purchases 6,046 Shares of Adobe Inc. $ADBE

New York State Teachers Retirement System lifted its position in Adobe Inc. (NASDAQ:ADBE) by 1.6% during the first quarter, Holdings Channel reports. The institutional investor owned 376,734 shares of the software company’s stock after buying an additional 6,046 shares during the quarter. New York State Teachers Retirement System’s holdings in Adobe were worth $91,577,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Willis Investment Counsel lifted its stake in shares of Adobe by 138.9% during the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after buying an additional 23,671 shares during the period. Nicholas Company Inc. grew its holdings in shares of Adobe by 7.6% during 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 during the last quarter. Teacher Retirement System of Texas increased its position in shares of Adobe by 13.4% in the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock valued at $75,462,000 after acquiring an additional 25,435 shares during the period. Wealthfront Advisers LLC increased its position in shares of Adobe by 13.2% in the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after acquiring an additional 6,426 shares during the period. Finally, True North Advisors LLC raised its stake in Adobe by 301.1% in the 4th 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 during the last quarter. Institutional investors own 81.79% of the company’s stock.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: HSBC upgraded Adobe to Buy from Hold and lifted its price target, saying worries that generative AI will erode Adobe’s business are overstated and that the stock has been unfairly discounted versus peers. HSBC Says Adobe’s AI Discount Is a Mistake
• Positive Sentiment: Adobe’s acquisition of Topaz Labs is being viewed as strategically important because it adds AI image and video enhancement tools to its Firefly ecosystem, strengthening Adobe’s creator and enterprise AI platform. Adobe Just Bought What Its AI Strategy Was Missing. Here’s Why the Stock Could Surge Soon.
• Positive Sentiment: Adobe launched Firefly Foundry and is widening access through a freemium push, which could help expand adoption of its AI and creative tools among both enterprise and mainstream users. Adobe (ADBE) Launches Firefly Foundry As It Pushes AI Tools To More Users
• Positive Sentiment: Several reports highlighted Adobe as a potential long-term AI and software winner, with some analysts and commentators pointing to strong recent earnings and improving monetization from its AI strategy. Adobe Stock (ADBE) Jumps after Top Analyst Upgrades It to Buy and Raises Price Target
• Neutral Sentiment: Erste Group raised its earnings estimates for Adobe, reflecting higher confidence in profitability, though this is a longer-term valuation support rather than a near-term catalyst. MarketBeat Adobe estimate update
• Negative Sentiment: Phillip Securities cut Adobe to Neutral from Buy and slashed its price target, citing concerns that growth is slowing and that the stock’s AI advantage may not be enough to offset decelerating momentum. Analyst Sees Slower Growth Tempering Outlook for Adobe (ADBE)

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares in the company, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 in the last three months. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Mizuho dropped their price target on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. Royal Bank Of Canada reduced their price objective on Adobe from $350.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. Sanford C. Bernstein decreased their target price on Adobe from $447.00 to $379.00 and set an “outperform” rating for the company in a report on Friday, June 12th. Jefferies Financial Group dropped their target price on Adobe from $290.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, June 12th. Finally, Citigroup reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $278.40.

Adobe Trading Up 4.1%

ADBE stock opened at $219.72 on Friday. The company’s 50-day simple moving average is $233.63 and its 200-day simple moving average is $265.46. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 52-week low of $190.12 and a 52-week high of $386.60. The firm has a market cap of $87.34 billion, a P/E ratio of 12.57, a PEG ratio of 0.74 and a beta of 1.43.

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

Adobe declared that its board has authorized a share buyback 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 typically a sign that the company’s board believes its stock is undervalued.

About Adobe

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.