Burney Co/ 13F: New $9.7M Stake in Adobe (ADBE)
A new Form 13F filing reveals that Burney Co. opened a position in Adobe Inc. during the quarter.
Reviewed by automated data checks against the source filing. How we make and check alerts
Burney Co/ opened a new position of 40,225 shares in Adobe Inc. ($ADBE), according to a 13F filing with the SEC dated October 15, 2026. It reported 40,225 shares worth $9.65 million at the end of the quarter.
Since the filing, $ADBE is down 2.6% to date (from the $251.67 close on Oct 15, 2026).
ADBE
Adobe Inc.
Key Points
- Burney Co. filed a Form 13F on October 15, 2026, disclosing a new stake of 40,225 shares in Adobe Inc. worth about $9.65 million.
- Adobe Inc. recently traded around $244.46 as the software maker prepares for its next earnings report on December 9, 2026.
- Other large institutional investors adjusted their positions, and several Wall Street firms recently updated their price targets.
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In a Form 13F filing with the SEC on October 15, 2026, Burney Co. disclosed a brand-new position in Adobe Inc. (NasdaqGS: ADBE), acquiring 40,225 shares valued at roughly $9.65 million. Keep in mind that 13F filings are backward-looking and reflect holdings as of the end of the reporting period, so they might not show the investor's current holdings.
Inside Burney Co.'s Adobe Trade
Burney Co. opened a new stake in the software maker, buying 40,225 shares. The reported value of the position came in at $9.65 million based on the filing details. Because this is a fresh position, the fund did not previously hold shares in the company.
Other Institutional Activity in Adobe Inc.
Other large funds also made moves on the stock during the period. Blackrock Inc. grew its holdings by 346,878 shares, ending with 41,156,085 shares worth about $10.09 billion. Vanguard Capital Management LLC trimmed its stake by 1.0%, cutting 274,804 shares to end with 26,405,210 shares valued at $6.47 billion. State Street Corporation grew its holdings by 3.0%, adding 601,406 shares to hold 20,515,508 shares worth about $5.03 billion. Invesco Ltd. lifted its stake by 3.7%, buying 528,336 shares to finish with 14,654,959 shares valued at $3.59 billion. Geode Capital Management, LLC reduced its stake by 0.9%, shedding 111,408 shares to hold 11,615,763 shares worth about $2.85 billion.
Adobe Inc. Stock Up 1.6%
Shares of Adobe recently traded around $244.46 as of October 16, 2026. The stock sits below its 50-day moving average of $256.84 and below its 200-day moving average of $254.75. Over the past 52 weeks, the shares have traded as low as $190.12 and as high as $363.70.
Recent Earnings
Adobe Inc. generated trailing-twelve-month revenue of $25.97 billion alongside year-over-year revenue growth of 12.9%. The company posted trailing-twelve-month earnings of $17.91 per share. Profitability metrics include a net margin of 28.0% and a return on equity of 61.9%. The company's next earnings report is scheduled for December 9, 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%.
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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.
Insider Buying and Selling at Adobe Inc.
Company insiders executed several trades prior to the filing. Chief Executive Officer Shantanu Narayen disposed of 75,000 shares on April 28, 2026, for a total value of about $18.27 million. Officer Jillian Forusz sold 755 shares on April 30, 2026, at an average price of $246.24, totaling $185,915, and later sold 416 shares on July 29, 2026, at an average price of $264.33 for $109,961. Meanwhile, Director David A. Ricks bought 10,000 shares on June 25, 2026, at an average price of $194.51, worth roughly $1.95 million.
Analysts Set New Price Targets
Analyst coverage includes a consensus hold rating from 32 analysts with a mean price target of $272.31. Citigroup maintained a Neutral rating on September 11, 2026, lowering its target to $250.00 from $301.00. JP Morgan maintained an Overweight rating on the same day with a target of $315.00 down from $340.00. DA Davidson kept a Buy rating on September 14, 2026, raising its target to $290.00 from $250.00. Wells Fargo downgraded the stock to Underweight on October 12, 2026, setting a $225.00 target. HSBC downgraded the stock to Hold on October 13, 2026, reducing its target to $267.00.
About Adobe Inc.
Adobe Inc. operates as a technology company providing digital media software worldwide. Its products help individuals, teams, and enterprises create, publish, and promote content across various digital channels, serving photographers, video editors, designers, and marketers.
Bottom Line
Burney Co.'s new stake highlights institutional interest in Adobe as the software provider heads toward its December earnings report. Investors will watch upcoming quarterly results and future SEC filings to see how institutional sentiment evolves.
Related Filing Alerts
Source: Burney Co/'s 13F filing on $ADBE (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Burney Co/ 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts