Oregon Public Employees Retirement Fund Raises Holdings in Adobe Inc. $ADBE

Oregon Public Employees Retirement Fund raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 31.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,433 shares of the software company’s stock after purchasing an additional 11,667 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Adobe were worth $17,085,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ADBE. Norges Bank acquired a new stake in shares of Adobe during the 2nd quarter worth about $2,029,950,000. Assenagon Asset Management S.A. boosted its stake in Adobe by 308.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,109,436 shares of the software company’s stock worth $1,202,979,000 after buying an additional 2,347,562 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Adobe in the 2nd quarter valued at approximately $318,224,000. Franklin Resources Inc. lifted its holdings in shares of Adobe by 68.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,939,018 shares of the software company’s stock worth $750,168,000 after acquiring an additional 791,077 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Adobe by 218.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,073,899 shares of the software company’s stock worth $415,434,000 after purchasing an additional 736,682 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Strategic AI partnership — Adobe expanded its Firefly video and multimodal capabilities by naming Runway a multi?year preferred API creativity partner, which gives Adobe customers early access to Runway’s video models and strengthens its AI content stack. Adobe (ADBE) Partners With Runway to Expand Firefly AI Video Tools
• Positive Sentiment: CES/product positioning — Coverage from the LA Times highlights Adobe executives outlining personalization and multi?model AI integrations (Runway, 11 Labs) at CES, reinforcing Adobe’s product roadmap and AI narrative that investors reward over the long term. Smarter, Not Louder: Adobe’s Vision for Personalization at CES 2026
• Positive Sentiment: Analyst bullish view — A Seeking Alpha piece upgraded its stance on Adobe, arguing the company is an “unloved compounder,” which can attract value?oriented and long?term growth investors. Adobe: I’m Pounding The Table On This Unloved Compounder (Rating Upgrade)
• Neutral Sentiment: Holiday commerce data — Adobe Analytics reported U.S. online holiday spending set a record despite slower growth; this supports Adobe’s analytics/data franchise but is mixed for near?term revenue/margin interpretation. US online holiday spending hits record levels despite slower growth, Adobe says
• Neutral Sentiment: Market/coverage roundup — A 24/7 Wall St. analyst calls bulletin and several financial outlets (Zacks, Forbes) are debating whether ADBE is a value buy or a turnaround candidate; these pieces raise investor interest but don’t move fundamentals immediately. Here Are Friday’s Top Wall Street Analyst Research Calls
• Negative Sentiment: Analyst downgrade — BMO’s Keith Bachman lowered his rating to Market Perform citing rising competitive pressures despite solid fundamentals; analyst downgrades can trigger selling and reduce short?term momentum. Adobe: Solid Fundamentals but Rising Competitive Pressures Justify Market Perform Rating
• Negative Sentiment: Critiques on growth and valuation — Several opinion pieces argue Adobe underperformed the 2025 AI rally (down ~20% YTD vs peers) and frame it as a deep?value/turnaround story, which signals investor skepticism about near?term growth and competitive risk. 2 Beaten Down Tech Stocks Primed for a 2026 Rebound
• Negative Sentiment: Negative investment thesis pieces — A Seeking Alpha deep?value critique highlights continued headwinds and competition, reinforcing sell?side caution and adding to downward pressure. Adobe Cannot Catch A Break – Deep-Value AI Thesis

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Oppenheimer dropped their target price on shares of Adobe from $460.00 to $430.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $430.00 price objective on shares of Adobe in a research note on Thursday, December 11th. Citigroup increased their target price on Adobe from $366.00 to $387.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 17th. Mizuho lowered their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, BMO Capital Markets lowered shares of Adobe from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $400.00 to $375.00 in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $410.92.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares of the company’s stock, valued at $1,157,576.88. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Adobe Stock Up 0.3%

ADBE stock opened at $339.04 on Friday. The company’s 50 day moving average price is $337.28 and its 200 day moving average price is $350.48. The firm has a market capitalization of $141.92 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.33 and a beta of 1.53. Adobe Inc. has a fifty-two week low of $311.58 and a fifty-two week high of $465.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.00.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, topping the consensus estimate of $5.40 by $0.10. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The company had revenue of $6.19 billion during the quarter, compared to analysts’ expectations of $6.11 billion. During the same quarter in the previous year, the business posted $4.81 EPS. The firm’s revenue was up 10.5% on a year-over-year basis. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.