Adobe Inc. $ADBE Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 566.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 820,823 shares of the software company’s stock after purchasing an additional 697,600 shares during the period. Adobe makes up 1.1% of State of Michigan Retirement System’s holdings, making the stock its 14th biggest position. State of Michigan Retirement System’s holdings in Adobe were worth $199,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Willis Investment Counsel increased its holdings in Adobe by 138.9% in the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock valued at $14,250,000 after buying an additional 23,671 shares in the last quarter. Nicholas Company Inc. boosted its stake in shares of Adobe by 7.6% during the 4th quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after acquiring an additional 12,400 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Adobe by 13.4% during the 4th quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after acquiring an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock valued at $19,312,000 after acquiring an additional 6,426 shares during the period. Finally, True North Advisors LLC grew its position in shares of Adobe by 301.1% during the 4th quarter. True North Advisors LLC now owns 6,493 shares of the software company’s stock valued at $2,273,000 after acquiring an additional 4,874 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 10,000 shares of the firm’s stock in a transaction on 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 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn sold 1,336 shares of the business’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer directly owned 42,833 shares in the company, valued at $10,623,440.66. This trade represents a 3.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 77,091 shares of company stock worth $18,782,773 over the last three months. 0.20% of the stock is owned by corporate insiders.

Adobe Trading Up 3.1%

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

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

Adobe declared that its board has approved a stock repurchase 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 buy up to 24.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Commentary from multiple outlets argues Adobe looks undervalued after a sharp decline from recent peaks, noting that the company’s core business is still performing well and its financial engine remains strong. We’re Bullish on Adobe Despite 40% Decline From Peak Levels
• Positive Sentiment: Investor sentiment is also being supported by Adobe’s strong recent quarterly results, including record revenue, raised FY2026 guidance, and rapid growth in AI-first ARR, which suggests the company is successfully monetizing its AI strategy. Adobe Gains as Investors Revisit Strong Q2, AI Push, and Recent Upgrade
• Positive Sentiment: Adobe’s CMO said AI is changing brand discovery and marketing measurement, reinforcing the view that Adobe is adapting early to a major shift in how consumers search and find products. Adobe CMO Lara Balazs Says AI Is Rewriting Brand Discovery: ‘There’s AI. Do That.’
• Positive Sentiment: Another report said Adobe is preparing for an AI-powered era of brand discovery, which could help sustain long-term relevance as consumers increasingly use AI tools instead of traditional search. How Adobe’s CMO is preparing for the AI-powered era of brand discovery
• Neutral Sentiment: Several articles mainly note that Adobe is attracting attention from investors and analysts, but do not add a major new catalyst on their own. Adobe Inc. (ADBE) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Brokerage coverage remains mixed, with one recent report describing Adobe’s consensus rating as “Hold,” suggesting some analysts still see limited upside near term. Adobe Inc. (NASDAQ:ADBE) Receives Average Rating of “Hold” from Brokerages

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adobe in a report on Wednesday, June 3rd. TD Cowen dropped their price objective on Adobe from $310.00 to $285.00 and set a “hold” rating on the stock in a report on Monday, June 8th. Phillip Securities cut Adobe from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Freedom Capital downgraded Adobe from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Piper Sandler decreased their target price on Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Six equities research 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. According to MarketBeat.com, Adobe currently has an average rating of “Hold” and an average price target of $275.00.

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.