Public Employees Retirement System of Ohio Boosts Holdings in Adobe Inc. $ADBE

Key Points

• Public Employees Retirement System of Ohio increased its Adobe stake by 2.6% in the first quarter, ending with 183,033 shares valued at about $44.5 million.
• Adobe reported strong quarterly results, with EPS of $5.96 and revenue of $6.62 billion, both ahead of estimates, while revenue rose 12.7% year over year. The company also issued FY 2026 and Q3 2026 earnings guidance.
• Adobe authorized a $25 billion share repurchase program, signaling confidence from management and potentially supporting the stock. Analyst sentiment remains mixed, with a consensus rating of Hold and several firms recently cutting price targets.

Public Employees Retirement System of Ohio increased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,033 shares of the software company's stock after acquiring an additional 4,714 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Adobe were worth $44,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Compound Planning Inc. lifted its position in Adobe by 1.4% in the first quarter. Compound Planning Inc. now owns 5,255 shares of the software company's stock valued at $1,278,000 after acquiring an additional 74 shares during the last quarter. Modern Wealth Management LLC grew its holdings in shares of Adobe by 3.7% during the first quarter. Modern Wealth Management LLC now owns 4,543 shares of the software company's stock worth $1,097,000 after purchasing an additional 161 shares during the last quarter. Keebeck Wealth Management grew its holdings in shares of Adobe by 81.3% during the first quarter. Keebeck Wealth Management now owns 1,253 shares of the software company's stock worth $305,000 after purchasing an additional 562 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Adobe by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,792,275 shares of the software company's stock worth $1,651,066,000 after purchasing an additional 563,772 shares in the last quarter. Finally, Oak Associates Ltd. OH increased its position in shares of Adobe by 56.2% during the first quarter. Oak Associates Ltd. OH now owns 123,922 shares of the software company's stock worth $30,123,000 after purchasing an additional 44,593 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $225.11 on Friday. The company has a 50-day simple moving average of $226.78 and a 200-day simple moving average of $251.84. Adobe Inc. has a one year low of $190.12 and a one year high of $376.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $89.48 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.71 and a beta of 1.43.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter in the prior year, the firm earned $5.06 earnings per share. The business's quarterly revenue was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts predict that Adobe Inc. will post 19.81 EPS for the current year.

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

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Adobe from $270.00 to $230.00 and set a "neutral" rating for the company in a research report on Friday, June 12th. Citizens Jmp reaffirmed a "market perform" rating on shares of Adobe in a research report on Friday, June 12th. KeyCorp reduced their price objective on Adobe from $235.00 to $195.00 and set an "underweight" rating for the company in a research note on Friday, June 12th. Dbs Bank cut Adobe from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, May 19th. Finally, Summit Redstone set a $350.00 price objective on Adobe in a report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $271.30.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: TipRanks said Adobe looks attractive despite ongoing AI adoption worries, suggesting investors may be focusing on valuation and long-term fundamentals rather than short-term AI fears. Adobe (ADBE) Stock Looks Attractive Even as AI Worries Persist
• Positive Sentiment: CLSA reportedly initiated or reiterated a Moderate Buy rating on Adobe, which can support sentiment by signaling analyst confidence in the stock’s outlook. Adobe NASDAQ: ADBE Earns Moderate Buy Rating from Analysts at CLSA
• Positive Sentiment: Recent coverage highlighted Adobe as a trending stock, which may reflect renewed investor attention and interest ahead of future catalysts. Here is What to Know Beyond Why Adobe Inc. (ADBE) is a Trending Stock
• Neutral Sentiment: One report said short interest in Adobe was unchanged at zero shares, so it does not indicate meaningful bearish pressure or a change in trading sentiment.
• Neutral Sentiment: A MarketWatch note said Adobe underperformed some peers on Wednesday, but this looks like a relative-performance observation rather than a major company-specific catalyst. Adobe Inc. stock underperforms Wednesday when compared to competitors
• Negative Sentiment: The main headwind remains investor concern about AI adoption, which could be weighing on Adobe’s near-term multiple even as some analysts argue the stock looks attractive.

Insiders Place Their Bets

In related news, Director David A. Ricks acquired 10,000 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was bought at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the transaction, the director owned 17,655 shares of the company's stock, valued at $3,434,074.05. The trade was a 130.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of Adobe 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 transaction, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.20% of the stock is owned by insiders.

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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