Teachers Retirement System of The State of Kentucky Sells 7,820 Shares of Adobe Inc. $ADBE

03 Mar 2026, 14:35 by Kim Johansen · The Markets Daily

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,427 shares of the software company’s stock after selling 7,820 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Adobe were worth $48,478,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADBE. Victory Capital Management Inc. lifted its stake in shares of Adobe by 112.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock valued at $469,467,000 after purchasing an additional 710,357 shares during the period. CI Investments Inc. raised its holdings in Adobe by 7.6% in the third quarter. CI Investments Inc. now owns 66,075 shares of the software company’s stock worth $23,308,000 after purchasing an additional 4,674 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its position in Adobe by 35.1% during the third quarter. Focus Partners Advisor Solutions LLC now owns 11,639 shares of the software company’s stock valued at $3,968,000 after buying an additional 3,021 shares during the period. Family Wealth Partners LLC bought a new stake in shares of Adobe during the 3rd quarter valued at $262,000. Finally, Becker Capital Management Inc. grew its position in shares of Adobe by 0.3% in the 3rd quarter. Becker Capital Management Inc. now owns 15,310 shares of the software company’s stock worth $5,401,000 after buying an additional 52 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADBE shares. Weiss Ratings raised shares of Adobe from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Mizuho lowered their target price on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Wolfe Research dropped their price target on Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. Morgan Stanley cut their price target on Adobe from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 11th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $500.00 price target on shares of Adobe in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Adobe has a consensus rating of “Hold” and a consensus target price of $392.76.

Check Out Our Latest Analysis on Adobe

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $260.88 on Tuesday. The firm’s 50 day simple moving average is $297.71 and its two-hundred day simple moving average is $328.09. Adobe Inc. has a 1-year low of $244.28 and a 1-year high of $453.26. The company has a market capitalization of $107.09 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.03 and a beta of 1.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.00 and a quick ratio of 1.00.

Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 earnings per share for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. Adobe had a return on equity of 61.28% and a net margin of 30.00%.The firm had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.11 billion. During the same quarter in the prior year, the company posted $4.81 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

More Adobe News

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Adobe and WPP expanded their global AI partnership to integrate Adobe’s generative AI tools with WPP’s agentic marketing platform — a move that could deepen Adobe’s enterprise marketing footprint, boost content-to-campaign workflows and help retain large clients through combined data, privacy and brand-consistency capabilities. Adobe WPP AI Alliance Tests Moat In Enterprise Marketing Workflows
Positive Sentiment: Adobe has a history of beating estimates and analysts note the company currently has the factors that have supported past upside surprises — this can raise expectations that the March 12 Q1 FY2026 report may again top consensus, which often drives near‑term stock strength. Will Adobe (ADBE) Beat Estimates Again in Its Next Earnings Report?
Neutral Sentiment: Adobe scheduled its Q1 FY2026 earnings release for after the close on March 12, with a live investor call to follow — an event that could trigger volatility depending on top-line, margin and AI-related commentary. Adobe to Announce Q1 FY2026 Earnings Results on March 12, 2026
Neutral Sentiment: Product-level updates such as Adobe promoting Acrobat tax‑prep tools are incremental for consumer engagement and upsell opportunities but are unlikely by themselves to move the stock materially. Treat your tax prep like a professional project with Adobe Acrobat
Neutral Sentiment: Several market pieces are highlighting software stocks with upside potential and include Adobe in broader analyst/watchlist commentary — useful for sentiment but not an immediate fundamental driver. 4 Software Stocks With 38% to 82% Upside Potential According to Wall Street
Negative Sentiment: Analysts and commentators flag heightened competition from new AI tools (including agentic and coding AI) that could erode Adobe’s creative-software moat and enable lower‑cost alternatives — a structural risk that may limit valuation multiple expansion and compress investor sentiment. Heightened AI Competition Fuels Analyst Skepticism on Adobe (ADBE)

Insider Activity at Adobe

In other news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the completion of the transaction, the chief financial officer directly owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

About Adobe

(Free Report)

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.