Teacher Retirement System of Texas Has $75.46 Million Stock Position in Adobe Inc. $ADBE

Key Points

• Teacher Retirement System of Texas increased its position in Adobe by 13.4% to 215,611 shares, valued at about $75.46 million (≈0.05% of the company) after purchasing 25,435 shares in the quarter.
• Adobe reported a quarterly beat (revenue $6.40B, EPS $6.06), set FY26 guidance of 23.30–23.50 EPS, and its board authorized a $25 billion share repurchase program covering up to 24.9% of outstanding shares.
• Management is pushing an AI product suite and industry partnerships that could drive new enterprise revenue, but analysts remain mixed (consensus "Hold", $339.88 target) and rising competition plus some insider selling are cited as risks; institutional ownership is ~81.8%.

Teacher Retirement System of Texas increased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,611 shares of the software company's stock after purchasing an additional 25,435 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.05% of Adobe worth $75,462,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Adobe by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 41,369,395 shares of the software company's stock worth $14,593,054,000 after purchasing an additional 344,816 shares in the last quarter. State Street Corp increased its position in Adobe by 1.7% in the 3rd quarter. State Street Corp now owns 20,632,009 shares of the software company's stock valued at $7,277,941,000 after acquiring an additional 352,448 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Adobe by 53.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,617,145 shares of the software company's stock valued at $1,981,448,000 after acquiring an additional 1,952,994 shares in the last quarter. Amundi increased its position in Adobe by 17.9% in the 3rd quarter. Amundi now owns 4,888,283 shares of the software company's stock valued at $1,711,583,000 after acquiring an additional 742,646 shares in the last quarter. Finally, Invesco Ltd. increased its position in Adobe by 9.4% in the 3rd quarter. Invesco Ltd. now owns 4,821,688 shares of the software company's stock valued at $1,700,850,000 after acquiring an additional 414,526 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Up 3.5%

Shares of NASDAQ:ADBE opened at $255.94 on Thursday. Adobe Inc. has a one year low of $224.13 and a one year high of $422.95. The company has a 50 day moving average of $252.69 and a 200-day moving average of $301.21. 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 stock has a market cap of $103.45 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.96 and a beta of 1.52.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The software company reported $6.06 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm earned $5.08 EPS. Adobe'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. On average, sell-side analysts forecast that Adobe Inc. will post 19.14 earnings per share for the current year.

Adobe declared that its Board of Directors has authorized a share buyback 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 buy up to 24.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 1,646 shares of Adobe stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total transaction of $485,323.10. Following the transaction, the chief financial officer owned 41,995 shares of the company's stock, valued at $12,382,225.75. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Board approved a massive $25 billion share repurchase authorization (through Apr 2030) — a large vote of confidence that can reduce share count and support per‑share metrics. Adobe Announces New $25 Billion Stock Repurchase Program
• Positive Sentiment: Adobe unveiled an agentic AI suite (CX Enterprise, GenStudio, Firefly enhancements, Experience Manager integrations) and multiple industry partnerships aimed at selling AI into marketing and CX budgets — a potential new enterprise revenue stream. Adobe CX Enterprise Pushes AI Agents Deeper Into Customer Experience Budgets
• Positive Sentiment: High‑profile industry support and positive analyst commentary (including public praise from NVIDIA’s CEO) have amplified sentiment that Adobe’s AI initiatives could translate into material commercial momentum. Adobe Unleashed: Why Nvidia's CEO Says This AI Giant Is the Future of Marketing
• Positive Sentiment: Recent quarterly results showed a revenue and EPS beat, and management set FY26 guidance consistent with durable cash flow — details that support the buyback thesis. Adobe Q1 Results & Guidance
• Neutral Sentiment: Adobe plans outcome‑based pricing for parts of its AI suite — could boost monetization if clients see measurable ROI, but execution and scale are still uncertain. Adobe Plans Outcome-Based Pricing for New AI Product Suite
• Neutral Sentiment: Some sell‑side analysts remain cautious (Hold/neutral ratings) citing valuation and competitive risk — buyback/product news improve sentiment but don’t eliminate uncertainty. Analyst: AI Ambition and Buybacks Offset by Competitive Pressures
• Negative Sentiment: Competitive pressure is intensifying — new agentic design tools (e.g., Anthropic’s Claude Design) and strong incumbents (Figma) could compress Adobe’s creative workflow franchise and slow adoption or pricing power. As Competition Heats Up, Can Figma Recover?
• Negative Sentiment: Insider selling: CFO Daniel Durn disclosed a modest sale (~1,336 shares) this week — not large relative to total holdings but noted by some investors as a signal to monitor. SEC Form 4 — Daniel Durn

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADBE. Morgan Stanley lowered their price objective on shares of Adobe from $425.00 to $365.00 and set an "equal weight" rating for the company in a research report on Friday, March 13th. Piper Sandler lowered their price objective on shares of Adobe from $330.00 to $280.00 and set a "neutral" rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada lowered their price objective on shares of Adobe from $400.00 to $350.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Finally, William Blair cut shares of Adobe from an "outperform" rating to a "market perform" rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $339.88.

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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