State of New Jersey Common Pension Fund D Sells 5,971 Shares of Adobe Inc. $ADBE

Key Points

• State of New Jersey Common Pension Fund D trimmed its Adobe stake by 4%, selling 5,971 shares and leaving a holding of 142,738 shares worth about $49.96 million.
• Adobe’s Board authorized a $25 billion share repurchase program that allows buybacks of up to 24.9% of outstanding shares, signalling management views the stock as undervalued.
• Adobe beat quarterly estimates with $6.06 EPS vs. $5.87 expected and $6.40 billion in revenue, and set FY2026 guidance at 23.30–23.50 EPS (Q2 at 5.80–5.85).

State of New Jersey Common Pension Fund D lessened its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,738 shares of the software company's stock after selling 5,971 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Adobe were worth $49,957,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADBE. Riverbend Wealth Management LLC boosted its position in shares of Adobe by 1.8% during the third quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company's stock worth $588,000 after buying an additional 29 shares during the period. Beacon Financial Advisory LLC raised its position in Adobe by 5.5% in the 3rd quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company's stock valued at $204,000 after buying an additional 30 shares during the last quarter. MCF Advisors LLC lifted its stake in Adobe by 20.8% in the 3rd quarter. MCF Advisors LLC now owns 174 shares of the software company's stock valued at $61,000 after acquiring an additional 30 shares in the last quarter. Brookwood Investment Group LLC lifted its stake in Adobe by 4.4% in the 3rd quarter. Brookwood Investment Group LLC now owns 734 shares of the software company's stock valued at $259,000 after acquiring an additional 31 shares in the last quarter. Finally, New Republic Capital LLC boosted its position in Adobe by 5.6% during the 3rd quarter. New Republic Capital LLC now owns 582 shares of the software company's stock worth $205,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Performance

ADBE opened at $240.04 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day simple moving average of $250.62 and a 200 day simple moving average of $297.56. Adobe Inc. has a 1 year low of $224.13 and a 1 year high of $422.95. The company has a market capitalization of $97.02 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.87 by $0.19. The company had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Research analysts expect that Adobe Inc. will post 19.14 EPS for the current 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 outstanding shares. This buyback authorization permits the software company to purchase up to 24.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn sold 1,336 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 42,833 shares of the company's stock, valued at approximately $10,623,440.66. This represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Adobe from $375.00 to $285.00 and set a "market perform" rating for the company in a research report on Friday, March 13th. DA Davidson set a $300.00 price objective on shares of Adobe in a research note on Friday, March 13th. UBS Group lowered their target price on Adobe from $290.00 to $260.00 and set a "neutral" rating on the stock in a research report on Friday, April 17th. Piper Sandler dropped their target price on Adobe from $330.00 to $280.00 and set a "neutral" rating on the stock in a report on Friday, March 13th. Finally, The Goldman Sachs Group reduced their price target on Adobe from $290.00 to $220.00 and set a "sell" rating for the company in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently 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 announced a $25 billion share repurchase program — a strong signal from management that they view the stock as undervalued and a direct capital-return boost to EPS and shareholder value; analysts note it’s a vote of confidence even as recovery may take time. Should You Buy Adobe Stock After the Company's $25 Billion Share Repurchase Announcement?
• Positive Sentiment: Adobe completed the Semrush acquisition, adding brand-visibility, SEO and AI-driven discoverability tools to Experience Cloud—strengthening Adobe’s position in AI-enabled marketing and search workflows for enterprise customers. Adobe Completes Semrush Acquisition
• Positive Sentiment: Product momentum: Adobe has made Firefly AI public and launched a Firefly AI assistant that can edit and create from natural language, amplifying monetization opportunities from creative tools and subscriptions. Adobe Firefly AI is now live publicly
• Positive Sentiment: Broader AI ecosystem integrations: Anthropic’s new Claude connectors and Adobe’s “creativity connector” bring Adobe tools into conversational AI workflows, increasing enterprise stickiness and partner-driven distribution. Anthropic releases 9 new Claude connectors for creative tools, including Blender and Adobe
• Neutral Sentiment: Analyst commentary (Zacks, Seeking Alpha) reiterates Adobe as a growth name with meaningful AI upside, but highlights valuation and execution risks — useful context but not new catalysts. Here's Why Adobe Systems (ADBE) is a Strong Growth Stock
• Negative Sentiment: Legal risk: a shareholder has sued Adobe’s board over allegations tied to AI training and copyright issues — this creates potential litigation and reputational risk that investors dislike, and can cap multiple expansion. Adobe Investor Sues Board Over AI Training Copyright Accusations
• Negative Sentiment: Negative/valuation commentary (e.g., “cheap for all the wrong reasons”) argues that macro, execution or sentiment issues explain the low multiple—this view can reinforce selling pressure despite strategic positives. Adobe: Cheap For All The Wrong Reasons

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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