Alliancebernstein L.P. Reduces $77M in Adobe Inc. ($ADBE)
Alliancebernstein L.P. has cut its position in Adobe Inc. by 305,800 shares, reflecting a significant reduction in its holdings.
Key Points
- Alliancebernstein L.P. cuts Adobe shares by 305,800.
- New total shares held: 527,558.
- Value of remaining shares: $132.65 million.
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Alliancebernstein L.P. has reduced its position in Adobe Inc. ($ADBE) by 305,800 shares, bringing its total holdings to 527,558 shares valued at approximately $132.65 million. This action reflects a decrease of about 36.69% in their stake, with a cost basis of $321.89 per share. The filing reflects holdings as of the reporting period and may not represent the investor's current position.
What Changed
| Metric | Value |
|---|---|
| Shares Delta | -305,800 |
| Shares After | 527,558 |
| Value | $132,649,183.52 |
| Cost Basis | $321.89 |
| Percentage Change | -36.69% |
Why This Matters
The reduction in holdings by Alliancebernstein L.P. may indicate a reevaluation of Adobe's stock performance or market conditions. However, it is important to note that 13F filings are backward-looking and may not reflect the current investment strategy of the fund.
Other Institutional Activity in $ADBE
Other institutional activity data was not available.
Adobe Inc. Stock Down 14.1%
- Price: $251.44
- Market Cap: $88.44 billion
- 52-Week Range: $218.09 - $405.00
- P/E Ratio: 12.52
- Beta: 1.404
Recent Earnings
Next earnings report is scheduled for June 11, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
17 target cuts vs 0 raises.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 0.5%.
-
Profit surprise
EBITDA missed by 26 percent. Operating income missed by 24 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 downgrades, 17 target cuts.
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Earnings quality
Operating margin down 2.1 points. Positive free cash flow.
Earnings Call Summary
Adobe reported $6.62 billion in revenue, beating consensus by $33 million, but missed earnings at $5.96 non-GAAP EPS versus expected $5.83. The company is pivoting to a freemium strategy, growing Creative Cloud freemium users from 50 million to 90 million and Acrobat users from 700 million to 850 million. Firefly AI revenue approached $300 million and grew 50 percent quarter over quarter. Management stressed that capturing traffic and user engagement now is more important than short-term profit, similar to how Acrobat Reader became a long-term moat.
Guidance Adobe expects $20.5 billion to $20.6 billion in revenue for the full year, raising its prior target. For next quarter, the company guides to $6.67 billion to $6.72 billion in revenue. The company is investing heavily in freemium products and deferring Creative Cloud price increases to capture new users and build long-term growth.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Dividend
No dividend data was available.
Insider Buying and Selling at Adobe Inc.
Recent insider transactions include:
- Jillian Forusz, SVP & CAO, sold 755 shares at $246.25 on April 30, 2026.
- Shantanu Narayen, Chair and CEO, sold 75,000 shares at $243.53 on April 28, 2026.
- Daniel Durn, EVP & CFO, sold 1,336 shares at $248.02 on April 20, 2026, and 2,384 shares at $244.66 on April 15, 2026.
Analysts Set New Price Targets
Analysts maintain a consensus rating of 'hold' for Adobe Inc. with targets ranging from $195.00 to $250.00. Notable recent actions include:
- BMO Capital maintained a hold rating with a target of $230.00.
- DA Davidson maintained a buy rating with a target of $250.00.
- Evercore ISI downgraded to hold with a target of $225.00.
About Adobe Inc.
Adobe Inc. is a global technology company headquartered in San Jose, California. It operates through various segments, including Digital Media and Digital Experience, providing products and services for content creation, management, and customer experience optimization. Founded in 1982, Adobe is known for its innovative software solutions used by individuals and enterprises across multiple sectors.
Bottom Line
The reduction of Adobe shares by Alliancebernstein L.P. highlights a shift in institutional sentiment towards the stock. Investors often track such filings for insights into market trends, though it's essential to remember that these filings are historical and may not reflect current positions or strategies.
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