State Street Corp Trims Holdings in Adobe Inc. $ADBE

Posted by Brian Himes on Jun 13th, 2026

State Street Corp lowered its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,473,733 shares of the software company’s stock after selling 158,276 shares during the quarter. State Street Corp owned about 4.99% of Adobe worth $7,165,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Willis Investment Counsel lifted its stake in Adobe by 138.9% during the fourth quarter. Willis Investment Counsel now owns 40,715 shares of the software company’s stock worth $14,250,000 after purchasing an additional 23,671 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Adobe by 112.6% during the third quarter. Victory Capital Management Inc. now owns 1,341,410 shares of the software company’s stock worth $469,467,000 after purchasing an additional 710,357 shares during the last quarter. Nicholas Company Inc. lifted its stake in Adobe by 7.6% during the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after purchasing an additional 12,400 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Adobe by 13.4% during the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after purchasing an additional 25,435 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its stake in Adobe by 13.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after purchasing an additional 6,426 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. BMO Capital Markets reduced their price objective on Adobe from $285.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday. Dbs Bank cut Adobe from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, May 19th. KeyCorp reduced their price objective on Adobe from $235.00 to $195.00 and set an “underweight” rating on the stock in a research note on Friday. Evercore set a $225.00 price objective on Adobe and gave the stock an “in-line” rating in a research note on Friday. Finally, Sanford C. Bernstein cut their target price on Adobe from $447.00 to $379.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $278.16.

View Our Latest Stock Analysis on Adobe

Adobe Stock Performance

ADBE stock opened at $204.02 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $82.46 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.85 and a beta of 1.42. Adobe Inc. has a 1 year low of $196.90 and a 1 year high of $405.00. The stock’s fifty day moving average is $244.54 and its two-hundred day moving average is $278.61.

Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Adobe had a return on equity of 64.99% and a net margin of 28.69%.The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $5.06 earnings per share. 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 predict that Adobe Inc. will post 19.14 EPS for the current year.

Adobe declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 21st that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to purchase up to 24.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total transaction of $185,918.75. Following the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at approximately $867,046.25. This trade represents a 17.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $243.54, for a total value of $18,265,500.00. Following the transaction, the chief executive officer directly owned 359,538 shares in the company, valued at $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 77,091 shares of company stock worth $18,782,773. 0.20% of the stock is owned by insiders.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Adobe reported record Q2 revenue of $6.62 billion and EPS of $5.96, both above expectations, while also raising full-year revenue and earnings guidance. The company said AI-driven demand and stronger subscription spending supported results. Adobe Reports Record Q2 Results
Positive Sentiment: Management highlighted accelerating adoption of Adobe’s AI tools, with AI-first annual recurring revenue topping $500 million, which supports the long-term growth case. Adobe Q2 Earnings Beat Estimates, Revenues Up Y/Y, Shares Fall
Neutral Sentiment: Despite the beat, Adobe signaled a strategic shift toward freemium AI products and prioritizing user growth over immediate monetization, which adds uncertainty around near-term ARR growth. ADBE Q2 Earnings Call Centers on Freemium AI Push, Raised Outlook
Negative Sentiment: Investors were rattled by the sudden departure of CFO Dan Durn, which adds to leadership uncertainty while Adobe is also in the middle of a CEO succession process. Adobe raises annual revenue forecast, CFO to exit
Negative Sentiment: Wall Street reacted with multiple price-target cuts and downgrades, reflecting concerns that Adobe’s core growth may be decelerating and that AI monetization is still not proven. Leadership Exits, Decelerating Core Growth Cloud Adobe’s Earnings Beat

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.

The company’s core offerings are organized around digital media and digital experience.