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

Key Points

• New York State Teachers Retirement System increased its Adobe stake by 1.6% in the first quarter, buying 6,046 additional shares and bringing its total holding to 376,734 shares worth about $91.6 million.
• Adobe is seeing mixed but active sentiment from analysts and investors: HSBC upgraded the stock to Buy and praised its AI positioning, while other firms cut targets or downgraded ratings amid concerns about slower growth.
• The company recently posted strong quarterly results, with EPS and revenue both topping estimates, and it also authorized a $25 billion share repurchase program that covers up to 24.9% of its stock.

New York State Teachers Retirement System lifted its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 376,734 shares of the software company's stock after purchasing an additional 6,046 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Adobe worth $91,577,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ADBE. Measured Wealth Private Client Group LLC bought a new stake in Adobe in the third quarter worth $26,000. Western Pacific Wealth Management LP purchased a new position in Adobe during the fourth quarter worth $26,000. Beacon Financial Strategies CORP bought a new position in Adobe during the fourth quarter valued at $28,000. TrustBank bought a new position in Adobe during the fourth quarter valued at $28,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Adobe in the third quarter valued at $27,000. Institutional investors own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the acquisition, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. This represents a 130.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 1,336 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $248.02, for a total transaction of $331,354.72. Following the completion of the transaction, the chief financial officer directly owned 42,833 shares of the company's stock, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 77,091 shares of company stock valued at $18,782,773 in the last ninety days. Company insiders own 0.20% of the company's stock.

Trending Headlines about 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)

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADBE. Robert W. Baird lowered their target price on shares of Adobe from $270.00 to $230.00 and set a "neutral" rating for the company in a report on Friday, June 12th. JPMorgan Chase & Co. cut their price target on shares of Adobe from $420.00 to $340.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. William Blair lowered shares of Adobe from an "outperform" rating to a "market perform" rating in a research report on Thursday, March 26th. Citigroup reissued a "market perform" rating on shares of Adobe in a research note on Friday, June 12th. Finally, HSBC upgraded Adobe from a "hold" rating to a "buy" rating and set a $308.00 target price for the company in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $278.40.

Adobe Stock Up 4.1%

NASDAQ:ADBE opened at $219.72 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. Adobe Inc. has a 1-year low of $190.12 and a 1-year high of $386.60. The company has a 50-day moving average of $233.63 and a 200 day moving average of $265.46. The firm has a market cap of $87.34 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43.

Adobe (NASDAQ:ADBE - Get Free Report) 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. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the firm posted $5.06 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. 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, research analysts anticipate that Adobe Inc. will post 19.8 EPS for the current fiscal year.

Adobe announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors 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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