Vestcor Inc Acquires 9,594 Shares of Adobe Inc. $ADBE

Key Points

• Vestcor Inc. boosted its Adobe stake by 50.1% in the fourth quarter, buying 9,594 more shares and bringing its total holdings to 28,729 shares worth about $10.1 million.
• Institutional ownership in Adobe remains high at 81.79%, and several large investors also added to positions, including Vanguard, State Street, Geode Capital, Norges Bank, and Arrowstreet Capital.
• Adobe’s stock has faced mixed sentiment: analysts now have a Hold consensus with a $337.62 price target, while insiders recently sold shares, even as the company reported solid quarterly results and authorized a $25 billion buyback.

Vestcor Inc increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 50.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,729 shares of the software company's stock after purchasing an additional 9,594 shares during the period. Vestcor Inc's holdings in Adobe were worth $10,055,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 valued at $14,593,054,000 after purchasing an additional 344,816 shares in the last quarter. State Street Corp lifted its holdings in shares of Adobe by 1.7% during 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 purchasing an additional 352,448 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Adobe by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 11,531,678 shares of the software company's stock valued at $4,027,170,000 after purchasing an additional 414,049 shares in the last quarter. Norges Bank bought a new position in shares of Adobe during the 4th quarter valued at about $2,275,165,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Adobe by 53.3% during 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 purchasing an additional 1,952,994 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADBE shares. Stifel Nicolaus cut their price objective on Adobe from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, March 13th. JPMorgan Chase & Co. dropped their target price on Adobe from $520.00 to $420.00 and set an "overweight" rating on the stock in a research report on Friday, March 13th. The Goldman Sachs Group dropped their target price on Adobe from $290.00 to $220.00 and set a "sell" rating on the stock in a research report on Friday, March 13th. Piper Sandler reissued a "neutral" rating and issued a $280.00 target price on shares of Adobe in a research report on Thursday. Finally, Argus reissued a "hold" rating on shares of Adobe in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $337.62.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 755 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the transaction, the chief accounting officer owned 3,521 shares of the company's stock, valued at $867,046.25. The trade was a 17.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Shantanu Narayen sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the transaction, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock valued at $18,782,773 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Adobe News Roundup

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its Outperform rating on Adobe and kept a $350 price target, implying meaningful upside from current levels. This suggests some analysts still see attractive valuation and earnings potential ahead. Benzinga
• Positive Sentiment: Multiple previews ahead of Adobe’s June 11 fiscal Q2 earnings report say Wall Street expects earnings growth and a potential beat, which could support the stock if results and guidance come in stronger than expected. Yahoo Finance
• Neutral Sentiment: Coverage this week highlighted that Adobe is getting closer to choosing its next CEO, with internal and external candidates under review. Leadership transition talk adds uncertainty, but it could also be viewed as a strategic reset in the AI era. Yahoo Finance
• Negative Sentiment: Investor anxiety continues to build around Adobe’s competitive moat, with one recent article arguing that AI could threaten the “Adobe era” and help explain why the stock has fallen sharply from its 2025 highs. The Motley Fool
• Negative Sentiment: Recent market commentary also noted Adobe has been falling more than the broader market, reflecting ongoing skepticism ahead of earnings and broader concerns about growth durability. Zacks

Adobe Stock Down 2.7%

Shares of Adobe stock opened at $251.44 on Friday. The business's 50 day simple moving average is $245.80 and its 200 day simple moving average is $281.86. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $419.82. The firm has a market cap of $101.63 billion, a PE ratio of 14.64, a P/E/G ratio of 1.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.Adobe's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.08 EPS. 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, analysts predict that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its board has authorized a stock buyback program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to reacquire up to 24.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Adobe 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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