Adobe Inc. $ADBE Shares Sold by Crestwood Advisors Group LLC

Key Points

• Crestwood Advisors Group LLC trimmed its stake in Adobe by 28.4%, selling 34,344 shares and leaving 86,465 shares worth about $30.26 million per its latest 13F filing.
• Adobe's board authorized a $25 billion stock buyback (up to 24.9% of shares) and the company unveiled a new AI productivity agent to deepen Creative Cloud and Acrobat use cases.
• Analysts have lowered price targets and the consensus rating is a Hold with an average target of $338.15; the stock is down roughly 27% YTD despite a recent earnings beat and FY26 EPS guidance of 23.30–23.50.

Crestwood Advisors Group LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 28.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,465 shares of the software company's stock after selling 34,344 shares during the quarter. Crestwood Advisors Group LLC's holdings in Adobe were worth $30,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lumbard & Kellner LLC purchased a new stake in Adobe during the fourth quarter valued at about $569,000. Sequoia Financial Advisors LLC lifted its stake in Adobe by 46.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,528 shares of the software company's stock valued at $5,085,000 after buying an additional 4,600 shares in the last quarter. Praxis Investment Management Inc. lifted its stake in Adobe by 437.5% during the fourth quarter. Praxis Investment Management Inc. now owns 11,702 shares of the software company's stock valued at $4,096,000 after buying an additional 9,525 shares in the last quarter. Gateway Investment Advisers LLC lifted its stake in Adobe by 4.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 126,201 shares of the software company's stock valued at $44,169,000 after buying an additional 5,834 shares in the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new stake in Adobe during the fourth quarter valued at about $774,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company reduced their price objective on shares of Adobe from $420.00 to $405.00 and set an "overweight" rating for the company in a research note on Monday, March 9th. Barclays lowered shares of Adobe from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $335.00 to $275.00 in a research note on Friday, March 13th. DA Davidson set a $300.00 price objective on shares of Adobe in a research note on Friday, March 13th. JPMorgan Chase & Co. reduced their price target on shares of Adobe from $520.00 to $420.00 and set an "overweight" rating for the company in a research report on Friday, March 13th. Finally, Jefferies Financial Group reduced their price target on shares of Adobe from $400.00 to $290.00 and set a "hold" rating for the company in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, Adobe currently has a consensus rating of "Hold" and an average target price of $338.15.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe unveiled a new AI productivity agent that integrates Acrobat PDF intelligence and can generate rich content (presentations, podcasts, images and text), aiming to deepen Creative Cloud and Acrobat use cases — a product move that could drive adoption, upsells and differentiation. Adobe launches productivity agent with AI-powered PDF tools, podcast creation and interactive sharing
• Positive Sentiment: Coverage highlights a reported ~US$25 billion buyback discussion alongside the AI agent — a large buyback would be EPS‑accretive, signal management confidence, and provide a near‑term floor for the stock if enacted. Will Adobe's (ADBE) US$25 Billion Buyback and New AI Agent Reshape Its Investment Narrative
• Neutral Sentiment: Multiple tech outlets detail the agent’s PDF/creator features and positioning (practical for enterprises and creators). These product details clarify the roadmap but don’t guarantee adoption timing — helpful for long‑term thesis but mixed for immediate revenue impact. Adobe made an AI agent for PDFs
• Neutral Sentiment: Adobe India execs say India is a key innovation center (significant R&D contribution to Firefly and agent work); region-level execution could accelerate product development but is a longer‑term growth input. Firms fixing workflows before deploying agentic AI tools: Prativa Mohapatra, Adobe India
• Negative Sentiment: Analysts and market pieces flag that ADBE is down ~27% YTD and now trades at a low P/E (~10), reflecting investor skepticism on SaaS multiples and the pace of GenAI monetization — that bearish backdrop tempers enthusiasm for product headlines. Adobe Falls 27% YTD, Trades at a Discount: What Should Investors Do?
• Negative Sentiment: Short‑term weakness persists: articles noting the stock “sank” during recent sessions point to technical selling and cautious analyst commentary despite the product launch — risk that the market wants clearer adoption/revenue proof. Adobe Systems (ADBE) Stock Sinks As Market Gains: Here's Why
• Negative Sentiment: Critical op‑eds question Adobe’s long‑term trajectory and draw comparisons to past technology falls, adding to negative sentiment that could pressure shares if buybacks or monetization milestones don’t appear. Adobe: The Next Nokia?

Adobe Price Performance

NASDAQ ADBE opened at $256.51 on Friday. The company has a 50 day simple moving average of $250.40 and a 200-day simple moving average of $295.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $103.68 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.42. Adobe Inc. has a 52-week low of $224.13 and a 52-week high of $422.95.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.87 by $0.19. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.28 billion. Adobe had a net margin of 29.48% and a return on equity of 64.48%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same period 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. Equities research analysts predict that Adobe Inc. will post 19.14 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a stock 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 buy up to 24.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 1,336 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $248.02, for a total transaction of $331,354.72. Following the transaction, the chief financial officer owned 42,833 shares of the company's stock, valued at approximately $10,623,440.66. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 755 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were 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 in the company, valued at approximately $867,046.25. The trade was a 17.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 77,091 shares of company stock valued at $18,782,773. 0.20% of the stock is currently owned by corporate insiders.

About Adobe

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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