Vanguard Trims Adobe Stake to 13.3% as of Dec 29, 2023

TL;DR

**Vanguard cut its Adobe stake to 13.3% as of year-end 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its beneficial ownership in Adobe Inc. As of December 29, 2023, Vanguard reported owning 60,396,448 shares of Adobe's common stock, representing 13.3% of the company. This filing indicates a slight decrease from their previous reported ownership, which matters to investors as Vanguard is a significant institutional holder, and changes in their stake can signal shifts in their investment strategy or outlook on Adobe's future performance.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its stake in Adobe, which could be interpreted as a minor loss of confidence or a portfolio rebalancing. Investors should monitor such changes as large institutional movements can sometimes precede broader market sentiment shifts.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like Vanguard typically poses a low risk to individual shareholders, as it's often part of routine portfolio management.

Analyst Insight

A smart investor would note Vanguard's slight reduction in Adobe shares but recognize that their continued substantial ownership (13.3%) still signals long-term confidence. This minor adjustment is unlikely to warrant immediate action but should be part of a broader assessment of institutional sentiment and Adobe's fundamentals.

Key Numbers

• 60,396,448 — Shares Beneficially Owned (Represents Vanguard's total holding in Adobe Inc. as of December 29, 2023.)
• 13.3% — Percentage of Class (Indicates Vanguard's significant ownership stake in Adobe Inc.)
• 9 — Amendment Number (Shows this is the ninth amendment to Vanguard's Schedule 13G filing for Adobe, indicating ongoing adjustments.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Adobe Inc. (company) — subject company whose securities are being reported
• 60,396,448 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 13.3% (dollar_amount) — percentage of Adobe's common stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Vanguard will continue to be a significant institutional holder of Adobe shares, maintaining a stake above 10% for the foreseeable future. (The Vanguard Group) — high confidence, target: December 31, 2024

FAQ

Filing Documents

• tv0186-adobeinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020179.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Adobe Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 345 Park Avenue San Jose, CA 95110-2704

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 00724F101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration