Texas Permanent School Fund Corp Trims Position in Adobe Inc. $ADBE

Texas Permanent School Fund Corp reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 30.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,847 shares of the software company’s stock after selling 16,886 shares during the period. Texas Permanent School Fund Corp’s holdings in Adobe were worth $14,642,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC purchased a new stake in Adobe in the first quarter valued at $25,000. LSV Asset Management lifted its holdings in shares of Adobe by 350.0% in the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock valued at $28,000 after buying an additional 56 shares during the period. Flaharty Asset Management LLC purchased a new stake in shares of Adobe in the first quarter worth about $29,000. Nexus Investment Management ULC acquired a new stake in Adobe during the second quarter worth about $31,000. Finally, Horizon Financial Services LLC raised its position in Adobe by 4,000.0% during the second quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock valued at $32,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 1.7%

Shares of NASDAQ ADBE opened at $356.43 on Monday. The firm has a market cap of $149.20 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.54. The company’s 50-day simple moving average is $336.07 and its 200-day simple moving average is $357.10. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52-week low of $311.58 and a 52-week high of $474.91.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share 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 firm had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.11 billion. During the same quarter in the prior year, the firm earned $4.81 EPS. The company’s revenue for the quarter 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. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus decreased their target price on shares of Adobe from $480.00 to $450.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. UBS Group set a $487.00 price target on shares of Adobe in a research report on Sunday. Cowen reiterated a “hold” rating on shares of Adobe in a research report on Monday, December 8th. Finally, Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $417.33.

Insider Activity

In related news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares in the company, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

About Adobe

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.