Adobe Inc. $ADBE Shares Bought by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Adobe by 30.1% in Q3 to 19,135 shares (about $6.75M), and several large institutions — including Victory Capital (1.34M shares) and Federated Hermes (898,408 shares) — also materially added positions, leaving institutional ownership at 81.79%.
• CFO Daniel Durn sold 1,646 shares on Jan. 27 at an average price of $294.85, trimming his stake by 3.77% to 41,995 shares; insiders now hold just 0.20% of the company.
• Analysts have trimmed price targets ahead of earnings, and Adobe carries a consensus rating of "Hold" with an average target of $386.08 (several firms have recently lowered targets, including Jefferies, Barclays and UBS).

Vestcor Inc grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 30.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,135 shares of the software company's stock after buying an additional 4,430 shares during the period. Vestcor Inc's holdings in Adobe were worth $6,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ADBE. CX Institutional lifted its holdings in shares of Adobe by 72.9% in the 3rd quarter. CX Institutional now owns 27,922 shares of the software company's stock valued at $9,849,000 after purchasing an additional 11,769 shares during the last quarter. Wright Investors Service Inc. grew its stake in Adobe by 114.4% during the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company's stock worth $3,499,000 after buying an additional 5,293 shares during the last quarter. Federated Hermes Inc. increased its position in Adobe by 185.1% during the third quarter. Federated Hermes Inc. now owns 898,408 shares of the software company's stock worth $316,913,000 after buying an additional 583,275 shares during the period. Jones Financial Companies Lllp increased its position in Adobe by 43.8% during the third quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company's stock worth $38,309,000 after buying an additional 32,448 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Adobe by 112.6% in the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company's stock valued at $469,467,000 after buying an additional 710,357 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the sale, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of research reports. Stifel Nicolaus lowered their target price on shares of Adobe from $480.00 to $450.00 and set a "buy" rating on the stock in a research report on Tuesday, December 9th. Jefferies Financial Group reduced their price target on shares of Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a research report on Monday, February 23rd. Wolfe Research decreased their price target on shares of Adobe from $450.00 to $440.00 and set an "outperform" rating for the company in a research note on Thursday, December 11th. Barclays lowered their price objective on shares of Adobe from $415.00 to $335.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Finally, UBS Group dropped their price objective on shares of Adobe from $375.00 to $340.00 and set a "neutral" rating on the stock in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $386.08.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Expanded commercial win: Adobe expanded its multi‑year partnership with Major League Baseball to deliver AI‑driven fan experiences, reinforcing real‑world adoption of Adobe's cloud and AI tools. Adobe and Major League Baseball Expand Partnership
• Positive Sentiment: Notable accumulation: Reports that Michael Burry has taken a sizeable position in ADBE and that hedge funds/institutions have been buyers adds a value-oriented, conviction buyer to the shareholder base, which can support the shares into earnings. Michael Burry Backs Adobe
• Positive Sentiment: Analyst endorsement: Royal Bank of Canada reaffirmed an "outperform" rating with a $430 price target, signaling continued institutional confidence in Adobe’s longer‑term AI/product transition. RBC Outperform
• Neutral Sentiment: Upcoming earnings are the main near‑term catalyst — previews and models expect roughly $6.28B revenue and ~$5.87–5.88 EPS; investors will watch AI product uptake and guidance on March 12. Adobe Q1 Earnings Loom
• Neutral Sentiment: Market calendar/inflation backdrop: Macro reports (CPI/PCE) and broader tech/AI earnings this week could amplify moves in ADBE; these are market‑wide risk factors rather than Adobe‑specific. Oracle, Adobe Earnings and Inflation Data
• Neutral Sentiment: Short‑interest report appears to show zero change (likely a reporting/data anomaly) and thus provides no clear directional signal to the market today.
• Neutral Sentiment: Wells Fargo trimmed its price target from $420 to $405 but kept an "overweight" rating, a mixed signal: lower target but continued long bias. Wells Fargo Target Lowered
• Negative Sentiment: Citi (and other outlets) cut its price target and called for an "uneventful" Q1, which reduces near‑term analyst support and can weigh on sentiment ahead of results. Citi Cuts Price Target
• Negative Sentiment: Minor selling by a public figure (Sen. Boozman) and other reported insider/institutional trades are being noted by markets; although not necessarily indicative of company fundamentals, such sales can pressure sentiment in the short term. Sen. John Boozman Sells Shares

Adobe Stock Performance

NASDAQ:ADBE opened at $282.43 on Tuesday. The firm's fifty day simple moving average is $290.24 and its 200-day simple moving average is $325.36. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. The stock has a market cap of $115.94 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.12 and a beta of 1.53. Adobe Inc. has a fifty-two week low of $244.28 and a fifty-two week high of $444.54.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The firm had revenue of $6.19 billion during the quarter, compared to analysts' expectations of $6.11 billion. During the same quarter last year, the business earned $4.81 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.

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