New York State Teachers Retirement System Buys 10,823 Shares of Adobe Inc. $ADBE

New York State Teachers Retirement System increased its stake in Adobe Inc. (NASDAQ:ADBE) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 380,587 shares of the software company’s stock after purchasing an additional 10,823 shares during the quarter. New York State Teachers Retirement System’s holdings in Adobe were worth $147,241,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Garde Capital Inc. bought a new position in Adobe in the 1st quarter worth $34,000. PFG Advisors increased its stake in Adobe by 20.8% in the 1st quarter. PFG Advisors now owns 4,964 shares of the software company’s stock worth $1,904,000 after buying an additional 855 shares in the last quarter. Krane Funds Advisors LLC increased its stake in Adobe by 110.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,391 shares of the software company’s stock worth $533,000 after buying an additional 730 shares in the last quarter. Financial Counselors Inc. increased its stake in Adobe by 9.2% in the 1st quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after buying an additional 5,298 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in Adobe in the 1st quarter worth $305,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 1.6%

ADBE opened at $330.63 on Thursday. The firm has a 50-day simple moving average of $351.33 and a two-hundred day simple moving average of $369.58. Adobe Inc. has a 52 week low of $329.20 and a 52 week high of $557.90. The company has a market capitalization of $138.40 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADBE. DA Davidson reiterated a “buy” rating and issued a $500.00 price target on shares of Adobe in a research note on Friday, September 12th. Rothschild & Co Redburn lowered Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target for the company. in a research note on Wednesday, July 2nd. Oppenheimer cut their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.