New York State Teachers Retirement System Sells 12,712 Shares of Adobe Inc. $ADBE

Key Points

• New York State Teachers Retirement System trimmed its stake in Adobe by 3.3%, selling 12,712 shares and leaving it with 370,688 shares (about 0.09% ownership) valued at roughly $129.7 million.
• Adobe announced a $25 billion share buyback and reported a Q1 EPS beat ($6.06 vs. $5.87) with FY‑2026 guidance of 23.30–23.50 EPS, signaling strong cash returns and continued revenue/margin momentum.
• Despite the buyback and upbeat results, company insiders sold stock (CEO Shantanu Narayen sold 75,000 shares; CFO sold 1,336) and analyst sentiment is mixed with an average rating of "Hold" and an average price target of $338.15.

New York State Teachers Retirement System lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 370,688 shares of the software company's stock after selling 12,712 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Adobe worth $129,737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Star Investment Management Corp. grew its position in Adobe by 7.5% during the 4th quarter. North Star Investment Management Corp. now owns 1,618 shares of the software company's stock worth $566,000 after acquiring an additional 113 shares during the last quarter. Activest Wealth Management increased its position in Adobe by 98.1% in the 4th quarter. Activest Wealth Management now owns 313 shares of the software company's stock valued at $110,000 after acquiring an additional 155 shares in the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Adobe in the fourth quarter worth about $43,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Adobe during the fourth quarter worth approximately $2,729,000. Finally, Narwhal Capital Management grew its stake in shares of Adobe by 43.7% during the fourth quarter. Narwhal Capital Management now owns 12,840 shares of the software company's stock valued at $4,494,000 after purchasing an additional 3,906 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Recent earnings and guidance beat underpin confidence in growth and margin sustainability; analysts cite the Q1 outperformance as a near‑term catalyst. Why Adobe Systems (ADBE) Outpaced the Stock Market Today
• Positive Sentiment: Management announced a $25 billion share buyback — a significant capital return that supports EPS and signals confidence from the board. Should You Buy Adobe Stock After the Company's $25 Billion Share Repurchase Announcement?
• Positive Sentiment: Product and partnership momentum around AI: Firefly went public and Adobe integrations with Claude/third‑party creative tools expand addressable market and stickiness for Creative Cloud/Enterprise customers. Adobe Firefly AI is now live publicly, hoping you’ll talk to an AI and get work done
• Neutral Sentiment: Trading/strategies commentary highlights elevated option activity and macro positioning; useful for traders but less likely to change fundamentals. Adobe Stock: Transform $200 Risk Into An $800 Return With A Butterfly Trade
• Negative Sentiment: CEO Shantanu Narayen sold 75,000 shares (disclosed Apr. 28) — an executive sale that can spook some investors even if it’s pre‑planned or for diversification. Shantanu Narayen Insider Sale Filing
• Negative Sentiment: Legal risk: an investor lawsuit alleges copyright issues around AI training — potential reputational, regulatory and litigation exposure that could pressure the stock if escalated. Adobe Investor Sues Board Over AI Training Copyright Accusations

Insider Buying and Selling

In related news, 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 transaction, the chief financial officer directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of the stock in a transaction 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 trade represents a 17.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ADBE. Barclays cut shares of Adobe from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $335.00 to $275.00 in a research report on Friday, March 13th. BTIG Research started coverage on Adobe in a report on Monday, April 13th. They set a "neutral" rating on the stock. BMO Capital Markets lowered their price target on Adobe from $375.00 to $285.00 and set a "market perform" rating for the company in a report on Friday, March 13th. Argus reaffirmed a "hold" rating on shares of Adobe in a research report on Monday, March 16th. Finally, Sanford C. Bernstein set a $447.00 price objective on Adobe and gave the company an "outperform" rating in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $338.15.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $246.10 on Friday. The stock has a market capitalization of $99.47 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.95 and a beta of 1.52. The business has a 50-day moving average of $250.36 and a 200-day moving average of $297.20. Adobe Inc. has a fifty-two week low of $224.13 and a fifty-two week high of $422.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its 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 net margin of 29.48% and a return on equity of 64.48%. The business had revenue of $6.40 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the business posted $5.08 EPS. Adobe's revenue was up 12.0% on a year-over-year basis. 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, sell-side analysts predict that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to buy up to 24.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Adobe Company 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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