D. E. Shaw 13F: Cuts Adobe (ADBE) Stake by $251M
D. E. Shaw cut its Adobe holdings by over a million shares in the latest SEC filing.
Reviewed by automated data checks against the source filing. How we make and check alerts
D. E. Shaw sold 1,210,016 shares from its stake in Adobe Inc. ($ADBE), a 76.72% decrease, according to a 13F filing with the SEC dated May 15, 2026. It reported 367,208 shares worth $76.13 million at the end of the quarter.
Since the filing, $ADBE is down 1.1% after 1 week, down 16.7% after 1 month and down 1.0% to date (from the $247.60 close on May 15, 2026).
ADBE
Adobe Inc.
Key Points
- D. E. Shaw reduced its Adobe holdings by 76.7%, selling 1.21 million shares, now holding 367,208 shares worth $76.1 million.
- Adobe's market cap is approximately $78 billion with a P/E ratio of 11.23 and a 52-week range between $195.02 and $392.58.
- Insider transactions on June 15, 2026, included sales by Adobe's interim CFO and SVP, with analysts maintaining mixed ratings.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Adobe Inc. alert may contain errors. Disclosures
D. E. Shaw has significantly reduced its stake in Adobe Inc. (NasdaqGS: ADBE), cutting its holdings by 76.7%. According to the latest Form 13F filing with the SEC, the investment firm sold 1,210,016 shares, leaving it with 367,208 shares valued at approximately $76.1 million as of the reporting period.
What Changed in D. E. Shaw's Adobe Position
D. E. Shaw's move to cut its stake in Adobe reflects a substantial reduction from its previous holding of 1,577,224 shares. The firm now holds 367,208 shares, marking a decrease of 1,210,016 shares, or 76.7%. The shares are valued at about $76.1 million based on the latest filing.
Other Institutional Activity in Adobe
Several other institutional investors have also made changes to their Adobe positions. BlackRock, Inc. increased its holdings by 379,718 shares, ending with 40,809,940 shares valued at around $9.92 billion. Meanwhile, State Street Corp reduced its position by 560,546 shares, holding 19,913,187 shares worth approximately $4.84 billion. Geode Capital Management, LLC added 195,210 shares, bringing its total to 11,726,888 shares valued at about $2.85 billion. Arrowstreet Capital, Limited Partnership also boosted its stake by 563,772 shares, now holding 6,792,275 shares worth roughly $1.65 billion.
Adobe Inc. Stock Down 13.9%
Shares of Adobe Inc. (NasdaqGS: ADBE) traded near $207.32 recently. The company boasts a market cap of approximately $78 billion and a P/E ratio of 11.23. Adobe's stock has seen a 52-week low of $195.02 and a high of $392.58. The stock's 50-day moving average stands at $242.54, with a 200-day moving average of $296.05. Adobe has a beta of 1.404, and its current and quick ratios are 0.751 and 0.631, respectively, with a debt-to-equity ratio of 61.443.
Recent Earnings
Adobe reported revenue of $25.2 billion, with a revenue growth rate of 12.7%. The company's net margin stands at 28.7%, and its return on equity is a robust 62.95%. Adobe's earnings per share (EPS) is $17.48. The next earnings report is expected on September 10, 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.
On June 15, 2026, several insider transactions occurred at Adobe. Steven Day, the Interim CFO and SVP, sold 270 shares at an average price of $206.36 and also sold 546 shares without a specified price. Additionally, Jillian Forusz, the SVP & CAO, sold 158 shares at the same average price. Adele Louise Pentland, the Chief Legal Officer & EVP, sold 3,676 shares at $206.36.
Analysts Set New Price Targets
On June 12, 2026, several analysts maintained their ratings on Adobe. Citigroup maintained a 'hold' rating with a $228 price target. Goldman Sachs kept a 'sell' rating with a $190 target, while JP Morgan reiterated a 'buy' rating with a $340 target. RBC Capital also maintained a 'buy' rating with a $285 price target. The consensus among 33 analysts is a 'hold' rating with an average price target of $288.48.
About Adobe Inc.
Adobe Inc., headquartered in San Jose, California, is a global leader in software solutions, particularly in digital media and digital marketing. The company offers products and services that help individuals and businesses create, publish, and manage content across various platforms. Led by CEO Shantanu Narayen, Adobe employs over 31,000 people. It operates in sectors like software applications and digital experiences, serving a diverse range of customers from photographers to large enterprises.
Bottom Line
D. E. Shaw's significant reduction in its Adobe holdings may catch the attention of investors who closely follow institutional moves. While these 13F filings are backward-looking and may not reflect current positions, they provide a snapshot of institutional sentiment. Adobe remains a key player in the technology sector, with strong financials and a diverse product portfolio that continues to attract attention from analysts and investors alike.
Related Filing Alerts
Source: D. E. Shaw's 13F filing on $ADBE (May 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: D. E. Shaw 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts