Alliancebernstein L.P. Cuts Stock Holdings in Adobe Inc. $ADBE

Alliancebernstein L.P. reduced its position in Adobe Inc. (NASDAQ:ADBE) by 37.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850,388 shares of the software company’s stock after selling 506,654 shares during the period. Alliancebernstein L.P. owned about 0.20% of Adobe worth $299,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in Adobe by 9.9% during the third quarter. Ameriprise Financial Inc. now owns 2,363,303 shares of the software company’s stock valued at $833,594,000 after buying an additional 212,240 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of Adobe by 46.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 41,105 shares of the software company’s stock worth $14,500,000 after acquiring an additional 13,039 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Adobe by 3.2% during the 3rd quarter. Lazard Asset Management LLC now owns 773,002 shares of the software company’s stock worth $272,676,000 after acquiring an additional 23,864 shares in the last quarter. SummitTX Capital L.P. boosted its stake in shares of Adobe by 89.5% during the 3rd quarter. SummitTX Capital L.P. now owns 6,167 shares of the software company’s stock worth $2,175,000 after acquiring an additional 2,912 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Adobe by 55.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,587,399 shares of the software company’s stock valued at $912,705,000 after acquiring an additional 920,353 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

More Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Record Q1 results and AI traction — Adobe posted above‑consensus Q1 revenue and EPS and highlighted rapid AI-first ARR growth; management framed the quarter as an AI‑led acceleration, which supports the company’s long‑term revenue mix and margins. Adobe Delivers Record Q1 Results
• Neutral Sentiment: Guidance shows upside but raises questions — Adobe’s FY26 EPS range and Q2 outlook exceeded consensus, yet investors parsed the details (ARR cadence, freemium strategy) for sustainability before rewarding the stock. Adobe Q1 earnings & guidance
• Neutral Sentiment: Short‑interest figures reported inconsistently — publicly posted short data showed anomalous/zero values (NaN/0), so current short‑squeeze risk or bearish positioning is unclear.
• Negative Sentiment: DOJ settlement adds immediate cost and reputational overhang — Adobe agreed to a $150M package (roughly $75M cash + $75M in free services) to resolve claims about hard‑to‑cancel subscriptions, creating a headline liability and consumer‑facing remediation burden. Adobe agrees to pay $150 million to resolve alleged violations
• Negative Sentiment: CEO succession uncertainty — Shantanu Narayen announced he will step down once a successor is named (he will remain board chair), creating near‑term leadership uncertainty at a critical time for Adobe’s AI strategy and execution. Shantanu Narayen Announces Decision to Transition as Adobe’s CEO
• Negative Sentiment: Analyst downgrades and lower targets amplify selling — Several firms cut price targets or moved to neutral/equal‑weight, citing CEO transition and mixed ARR trends, which pressured sentiment and triggered further mark‑downs. These Analysts Cut Their Forecasts On Adobe Following Q1 Earnings

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. Wall Street Zen upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. lowered their price target on Adobe from $520.00 to $420.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley dropped their price objective on Adobe from $425.00 to $365.00 and set an “equal weight” rating on the stock in a report on Friday. Oppenheimer restated a “market perform” rating on shares of Adobe in a research report on Friday. Finally, HSBC set a $302.00 target price on Adobe in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $347.85.

Adobe Trading Down 7.6%

ADBE stock opened at $249.32 on Monday. Adobe Inc. has a 12-month low of $244.28 and a 12-month high of $422.95. The business’s 50-day moving average is $283.88 and its 200 day moving average is $322.76. The company has a current ratio of 0.91, a quick ratio of 1.00 and a debt-to-equity ratio of 0.47. The stock has a market cap of $102.35 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.98 and a beta of 1.53.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.08 earnings per share. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,646 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer directly owned 41,995 shares of the company’s stock, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

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.