Bank of America 13F: Cuts Adobe (ADBE) Stake by $76M

Bank of America Trims Stake in Adobe Inc.

Bank of America trimmed its stake in Adobe Inc. NasdaqGS ADBE by 12.7% during the period, according to a Form 13F filing with the Securities and Exchange Commission. Because the filing covers holdings as of an earlier date, it may not represent the bank's current position today. The financial institution sold 376,530 shares during the period to bring its ending position to 2,594,715 shares. The reported value of the remaining holding stood at approximately $524.1 million based on the data provided.

Reduction Details for Adobe Inc. Holdings

The reduction follows a prior holding of 2,971,245 shares before the bank adjusted its software portfolio. The resulting share count of 2,594,715 shares reflects the net sale of 376,530 shares. Because 13F filings look backward at past quarters, this snapshot captures the bank's portfolio choices as of May 18, 2026.

Adobe Stock Trades Near Recent Lows

Adobe shares changed hands at $201.98. That puts the equity closer to its 52-week low of $190.12 than its yearly high of $363.70. The software provider carries a forward P/E of 9.15, while the next quarterly report is slated for December 9, 2026.

Recent Insider Transactions at Adobe Inc.

Company insiders have recorded several transactions recently. On June 15, 2026, Interim CFO Steven Day acquired 546 shares. On the same date, Chief Legal Officer Adele Louise Pentland transacted 7,800 shares, including both an acquisition and a separate disposition. In addition, SVP and CAO Jillian Forusz sold 158 shares at an average price of $206.36 for a total value of $32,604.88 alongside another acquisition of 461 shares.

Analysts Set New Price Targets

Wall Street firms have adjusted their views on the software developer. On October 13, 2026, HSBC downgraded the stock to Hold with a $267 target, cutting from $310. Wells Fargo followed on October 12, 2026, by downgrading the shares to Underweight and lowering its target to $225 from $270. DA Davidson maintained a Buy rating on September 14, 2026, raising its target to $290 from $250. Citigroup maintained a Neutral rating with a $250 target on September 11, 2026. JP Morgan maintained an Overweight rating with a $315 target on the same day. Jefferies maintained a Hold rating with a $275 target on September 11, 2026, and TD Cowen reiterated a Hold rating with a $245 target. Evercore ISI Group maintained an In-Line rating while boosting its target to $250 on September 11, 2026.

Inside Adobe's Software Business

Headquartered in San Jose, California, Adobe operates as a major software provider across digital media and digital experience segments, serving creators and enterprises worldwide.

What to Watch Next for Adobe

Investors will look toward the company's next earnings release on December 9, 2026, alongside upcoming institutional filings to see how major asset managers adjust their software holdings. These disclosures remain historical updates rather than current indicators of market direction.