CastleKnight Management LP Lowers Stock Holdings in Adobe Inc. $ADBE

Posted by Francis Steltz on Jun 18th, 2026

CastleKnight Management LP reduced its stake in Adobe Inc. (NASDAQ:ADBE – Free Report) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,700 shares of the software company’s stock after selling 8,400 shares during the quarter. CastleKnight Management LP’s holdings in Adobe were worth $5,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Western Pacific Wealth Management LP purchased a new position in shares of Adobe in the 4th quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Adobe in the third quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Adobe in the third quarter valued at approximately $27,000. Caitlin John LLC purchased a new stake in shares of Adobe in the third quarter valued at approximately $28,000. Finally, Beacon Financial Strategies CORP purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 755 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $246.25, for a total value of $185,918.75. Following the completion of the transaction, the chief accounting officer directly owned 3,521 shares of the company’s stock, valued at $867,046.25. The trade was a 17.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Shantanu Narayen sold 75,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the completion of the transaction, the chief executive officer directly owned 359,538 shares of the company’s stock, valued at approximately $87,561,884.52. This trade represents a 17.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 77,091 shares of company stock valued at $18,782,773 over the last three months. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADBE shares. The Goldman Sachs Group decreased their price target on Adobe from $220.00 to $190.00 and set a “sell” rating on the stock in a research note on Friday, June 12th. Barclays decreased their price target on Adobe from $275.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Friday, June 12th. Royal Bank Of Canada decreased their price target on Adobe from $350.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Freedom Capital cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, Wolfe Research cut Adobe from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 12th. Five analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $278.16.

Get Our Latest Stock Analysis on ADBE

Key Headlines Impacting Adobe

Here are the key news stories impacting Adobe this week:

Positive Sentiment: Adobe announced Adobe Brand Visibility and new GenStudio for Commerce Media Networks tools, aimed at helping companies stay visible, trusted, and on-brand across AI-driven search and shopping surfaces. Introducing Adobe Brand Visibility: A Unified Solution for the AI Search Era
Positive Sentiment: Adobe and LinkedIn launched a global AI skills initiative for marketers, reinforcing Adobe’s role in AI education and enterprise workflow adoption. Adobe & LinkedIn Launch Global AI Skills Initiative for Marketing Professionals
Positive Sentiment: Multiple commentary pieces highlighted Adobe as a potentially undervalued software name after the selloff, suggesting some investors see the pullback as a buying opportunity. Microsoft vs. Adobe: Which High ROIC Software Stock is the Best Buy-the-Dip Target?
Neutral Sentiment: Adobe executives discussed how AI is changing brand discovery and online visibility, which supports the company’s AI narrative but does not yet translate into immediate financial results. How AI is Changing the Branding Game: Integrating AI Optimization & Trust
Negative Sentiment: Investor sentiment remains weak after reports about the surprise departure of Adobe’s CFO and broader concerns about slowing spend and softer AI credit demand. Adobe Sinks After CFO Departure. It’s Now a Classic Battleground Stock.
Negative Sentiment: Jim Cramer struck a bearish tone on Adobe, pointing to the CEO resignation and CFO change as reasons he does not want investors in the stock right now. Jim Cramer on Adobe: “I Don’t Want You in It”

Adobe Trading Down 5.3%

Shares of ADBE stock opened at $196.28 on Thursday. Adobe Inc. has a fifty-two week low of $195.02 and a fifty-two week high of $392.58. The stock has a market cap of $78.02 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.72 and a beta of 1.42. The business has a fifty day simple moving average of $242.14 and a 200-day simple moving average of $275.90. The company has a quick ratio of 0.91, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same quarter last year, the business posted $5.06 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. On average, analysts forecast that Adobe Inc. will post 19.79 earnings per share for the current fiscal year.

Adobe declared that its board has authorized a share buyback program on Tuesday, April 21st that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to repurchase up to 24.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Adobe Profile

(Free Report)

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.

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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