Chevy Chase Trust Holdings LLC Has $84.51 Million Position in Adobe Inc. $ADBE

Chevy Chase Trust Holdings LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 239,560 shares of the software company’s stock after selling 8,996 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Adobe were worth $84,505,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ADBE. Riverbend Wealth Management LLC lifted its stake in shares of Adobe by 1.8% in the 3rd quarter. Riverbend Wealth Management LLC now owns 1,668 shares of the software company’s stock valued at $588,000 after purchasing an additional 29 shares during the period. Intellus Advisors LLC boosted its position in shares of Adobe by 1.6% in the 2nd quarter. Intellus Advisors LLC now owns 1,860 shares of the software company’s stock worth $720,000 after purchasing an additional 30 shares during the last quarter. Beacon Financial Advisory LLC grew its stake in shares of Adobe by 5.5% during the third quarter. Beacon Financial Advisory LLC now owns 577 shares of the software company’s stock worth $204,000 after purchasing an additional 30 shares during the period. MCF Advisors LLC grew its stake in shares of Adobe by 20.8% during the third quarter. MCF Advisors LLC now owns 174 shares of the software company’s stock worth $61,000 after purchasing an additional 30 shares during the period. Finally, Dakota Community Bank & Trust NA increased its holdings in Adobe by 12.8% in the second quarter. Dakota Community Bank & Trust NA now owns 274 shares of the software company’s stock valued at $106,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In related news, CFO Daniel Durn sold 1,646 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $294.85, for a total transaction of $485,323.10. Following the sale, the chief financial officer owned 41,995 shares in the company, valued at approximately $12,382,225.75. This represents a 3.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several analyst reports. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. TD Cowen lowered their price target on Adobe from $400.00 to $325.00 and set a “hold” rating for the company in a research note on Tuesday, March 10th. KeyCorp cut their price target on shares of Adobe from $310.00 to $235.00 and set an “underweight” rating on the stock in a research report on Friday. Sanford C. Bernstein set a $447.00 price objective on shares of Adobe and gave the stock an “outperform” rating in a research note on Friday. Finally, Weiss Ratings cut shares of Adobe from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $347.85.

Adobe Stock Performance

Shares of ADBE opened at $249.32 on Friday. Adobe Inc. has a 12 month low of $244.28 and a 12 month high of $422.95. The firm has a fifty day simple moving average of $283.88 and a 200 day simple moving average of $323.00. The stock has a market capitalization of $102.35 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.98 and a beta of 1.53. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 12th. The software company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.87 by $0.19. Adobe had a net margin of 29.48% and a return on equity of 64.23%. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business earned $5.08 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Key Headlines Impacting Adobe

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

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.