Teachers Retirement System of The State of Kentucky Sells 110,294 Shares of Adobe Inc. $ADBE

Teachers Retirement System of The State of Kentucky cut its stake in Adobe Inc. (NASDAQ:ADBE) by 76.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,203 shares of the software company’s stock after selling 110,294 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Adobe were worth $8,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Adobe in the 4th quarter valued at approximately $2,275,165,000. AQR Capital Management LLC raised its stake in shares of Adobe by 55.2% in the third quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after purchasing an additional 920,353 shares in the last quarter. Amundi lifted its position in Adobe by 17.9% in the third quarter. Amundi now owns 4,888,283 shares of the software company’s stock worth $1,711,583,000 after purchasing an additional 742,646 shares during the period. J. Stern & Co. LLP boosted its stake in Adobe by 26,128.1% during the fourth quarter. J. Stern & Co. LLP now owns 652,031 shares of the software company’s stock worth $228,204,000 after buying an additional 649,545 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Adobe by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,228,503 shares of the software company’s stock valued at $2,179,914,000 after buying an additional 611,358 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $230.61 on Tuesday. The stock has a 50-day simple moving average of $230.53 and a 200 day simple moving average of $258.99. The stock has a market capitalization of $91.67 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.75 and a beta of 1.43. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $376.16.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.06 EPS. 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, research analysts anticipate that Adobe Inc. will post 19.8 earnings per share for the current fiscal year.

Adobe announced that its board has authorized a share repurchase program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to reacquire up to 24.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Adobe

In related news, Director David A. Ricks purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director directly owned 17,655 shares of the company’s stock, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $246.25, for a total transaction of $185,918.75. Following the completion of the sale, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. This represents a 17.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 77,091 shares of company stock valued at $18,782,773 over the last three months. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent research reports. William Blair lowered shares of Adobe from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 26th. Citigroup reaffirmed a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Argus reiterated a “hold” rating on shares of Adobe in a research note on Monday, March 16th. Mizuho dropped their target price on Adobe from $270.00 to $245.00 and set a “neutral” rating for the company in a report on Friday, June 12th. Finally, Bank of America restated an “underperform” rating and set a $190.00 target price on shares of Adobe in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $275.00.

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.