Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $34.08 Million Holdings in Adobe Inc. $ADBE

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its Adobe stake by 4.4% in the fourth quarter, though it still held 97,369 shares valued at about $34.1 million.
• Adobe insiders have been selling shares recently, including CFO Daniel Durn and CEO Shantanu Narayen, with 77,091 shares sold over the last three months worth about $18.8 million.
• Analysts remain cautious overall: Adobe’s consensus rating is Hold with an average price target of $338.15, even as the company reported strong quarterly results and authorized a $25 billion share buyback.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,369 shares of the software company's stock after selling 4,497 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Adobe were worth $34,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. Western Pacific Wealth Management LP acquired a new stake in shares of Adobe in the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Adobe in the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Adobe in the third quarter worth about $27,000. Caitlin John LLC acquired a new stake in shares of Adobe in the third quarter worth about $28,000. Finally, Beacon Financial Strategies CORP acquired a new stake in shares of Adobe in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,336 shares of the business's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. The trade was a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Shantanu Narayen sold 75,000 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value 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 represents a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 over the last three months. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Stifel Nicolaus cut their price objective on Adobe from $450.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, March 13th. JPMorgan Chase & Co. cut their price objective on Adobe from $520.00 to $420.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Mizuho reissued a "neutral" rating and set a $270.00 price objective (down from $315.00) on shares of Adobe in a research report on Monday, April 27th. Royal Bank Of Canada cut their price objective on Adobe from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Finally, Jefferies Financial Group cut their price objective on Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $338.15.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe is seeing renewed buying ahead of its expected June 11 earnings release, with investors likely adjusting positions and leaning into a valuation rebound after a prolonged reset in software stocks. Adobe shares rise as investors position ahead of next earnings and lean into a valuation rebound
• Positive Sentiment: Recent commentary highlighted Adobe’s AI strategy, including AI agents and Acrobat becoming more of an AI workspace, which supports the view that Adobe can adapt its products to new workflows and defend its enterprise software franchise. Adobe Acrobat Studio review: Acrobat becomes an AI workspace
• Positive Sentiment: Adobe Analytics was named a “Champion” in Info-Tech Research Group’s 2026 Digital Analytics Data Quadrant, reinforcing the strength of Adobe’s analytics and customer-experience products. Top Digital Analytics Platforms Named 2026 Champions in Info-Tech Research Group's Data Quadrant Report

Adobe Stock Performance

Shares of ADBE opened at $259.21 on Monday. Adobe Inc. has a 12-month low of $224.13 and a 12-month high of $421.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $104.77 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 1.01 and a beta of 1.42. The stock's 50-day moving average price is $244.11 and its 200 day moving average price is $284.08.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the company posted $5.08 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. As a group, research analysts predict that Adobe Inc. will post 19.15 earnings per share for the current year.

Adobe announced that its board has authorized a stock repurchase plan on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to purchase up to 24.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management 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.

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