VIRGINIA RETIREMENT SYSTEMS ET Al Invests $54.44 Million in Adobe Inc. $ADBE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Adobe Inc. (NASDAQ:ADBE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 265,521 shares of the software company’s stock, valued at approximately $54,437,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of Adobe at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ADBE. SWAN Capital LLC grew its holdings in Adobe by 43.1% in the third quarter. SWAN Capital LLC now owns 103 shares of the software company’s stock valued at $36,000 after purchasing an additional 31 shares during the last quarter. Logan Capital Management Inc. raised its stake in shares of Adobe by 0.3% during the 3rd quarter. Logan Capital Management Inc. now owns 9,789 shares of the software company’s stock worth $3,453,000 after buying an additional 32 shares during the last quarter. Vista Capital Partners Inc. boosted its position in shares of Adobe by 5.8% in the 2nd quarter. Vista Capital Partners Inc. now owns 624 shares of the software company’s stock worth $241,000 after buying an additional 34 shares in the last quarter. Murphy & Mullick Capital Management Corp boosted its position in shares of Adobe by 5.1% in the 4th quarter. Murphy & Mullick Capital Management Corp now owns 827 shares of the software company’s stock worth $289,000 after buying an additional 40 shares in the last quarter. Finally, Front Street Capital Management Inc. grew its stake in Adobe by 8.2% in the 2nd quarter. Front Street Capital Management Inc. now owns 541 shares of the software company’s stock valued at $209,000 after acquiring an additional 41 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADBE. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Saturday. Freedom Capital lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Bank of America lifted their price objective on Adobe from $190.00 to $220.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 19th. Evercore set a $225.00 target price on Adobe and gave the company an “in-line” rating in a research note on Friday, June 12th. Finally, CLSA assumed coverage on Adobe in a report on Monday, July 20th. They set an “outperform” rating and a $300.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $278.72.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 416 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $264.33, for a total value of $109,961.28. Following the completion of the transaction, the chief accounting officer directly owned 3,824 shares in the company, valued at approximately $1,010,797.92. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. Corporate insiders own 0.20% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $266.51 on Monday. The company has a 50-day simple moving average of $249.19 and a 200-day simple moving average of $245.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $105.94 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.42. Adobe Inc. has a 12 month low of $190.12 and a 12 month high of $370.86.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.82 by $0.14. The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.45 billion. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm 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, equities analysts anticipate that Adobe Inc. will post 19.81 earnings per share for the current year.

Key Stories Impacting Adobe

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe raised Anil Chakravarthy, president of its Customer Experience Orchestration business and worldwide field operations, to president and CEO effective December 1. Chakravarthy has overseen several AI products, while longtime CEO Shantanu Narayen will become executive chair, potentially supporting continuity as Adobe accelerates its AI strategy. Adobe Announces CEO Transition
• Positive Sentiment: RBC raised its price target to $315 from $285 and maintained an Outperform rating ahead of Adobe’s fiscal third-quarter results, citing the potential for annual recurring revenue to exceed expectations. Adobe reports on September 10, making recurring-revenue growth a key near-term catalyst. RBC Raises Adobe Price Target
• Positive Sentiment: Adobe expanded its AI and marketing ecosystem by acquiring Indian startup Rilo and integrating more than 70 creative tools—including Photoshop, Firefly and Acrobat—into Slack. These initiatives could improve workflow integration and strengthen enterprise adoption. Adobe Launches Slack App
• Neutral Sentiment: Analysts remain divided ahead of earnings: some see valuation upside if ARR reaccelerates, while others maintain Hold ratings because Adobe must demonstrate that its AI investments can revive growth and support a higher multiple.
• Negative Sentiment: The CEO announcement surprised investors because it came shortly before earnings and selected Chakravarthy rather than another business leader some investors reportedly expected. Reports also pointed to a separate executive departure, raising concerns about further leadership turnover. Why Adobe Stock Is Dropping
• Negative Sentiment: Adobe continues to face fears that AI-native rivals and new tools from major technology companies could pressure its creative-software franchise, user growth and pricing power. Stronger employment data also increased expectations for a hawkish Federal Reserve, weighing on software and other growth stocks broadly. U.S. Stocks End Lower

Adobe Company 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.