Adobe Inc. $ADBE Shares Sold by Boston Family Office LLC

Key Points

• Boston Family Office LLC cut its Adobe stake by 50.3% in the fourth quarter, selling 19,075 shares and leaving it with 18,885 shares valued at about $6.61 million.
• Adobe beat fiscal Q2 expectations with EPS of $5.96 and revenue of $6.62 billion, and it raised its full-year and Q3 guidance as AI-driven demand and subscription growth improved results.
• Despite the earnings beat, sentiment remains mixed: shares were down sharply, analysts trimmed price targets or downgraded the stock, and investors are watching leadership changes and uncertainty around AI monetization.

Boston Family Office LLC decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,885 shares of the software company's stock after selling 19,075 shares during the quarter. Boston Family Office LLC's holdings in Adobe were worth $6,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADBE. Brighton Jones LLC boosted its position in Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the period. Sivia Capital Partners LLC raised its stake in Adobe by 25.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock valued at $926,000 after acquiring an additional 486 shares in the last quarter. United Bank raised its stake in Adobe by 12.8% during the 2nd quarter. United Bank now owns 3,773 shares of the software company's stock valued at $1,460,000 after acquiring an additional 428 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in Adobe by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock valued at $1,017,000 after acquiring an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Adobe by 190.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock valued at $1,069,000 after acquiring an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Down 6.8%

Shares of ADBE opened at $204.02 on Friday. The firm 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. 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 business's fifty day moving average price is $244.54 and its two-hundred day moving average price is $278.61. Adobe Inc. has a 52 week low of $196.90 and a 52 week high of $405.00.

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

Adobe declared that its board has authorized a stock repurchase program on Tuesday, April 21st that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Adobe from $420.00 to $340.00 and set an "overweight" 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. UBS Group set a $365.00 target price on Adobe in a report on Friday. Dbs Bank cut Adobe from a "moderate buy" rating to a "hold" rating in a report on Tuesday, May 19th. Finally, Argus reiterated a "hold" rating on shares of Adobe in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of "Hold" and an average target price of $278.16.

Key Adobe News

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

Insider Transactions at Adobe

In other news, CEO Shantanu Narayen sold 75,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel Durn sold 1,336 shares of Adobe stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $248.02, for a total value of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares in the company, valued at approximately $10,623,440.66. This represents a 3.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,091 shares of company stock worth $18,782,773 in the last three months. Insiders own 0.20% of the company's stock.

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.

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