Northstar Asset Management Inc. reduced its holdings in Adobe Inc. (ADBE) by 17.1% during the second quarter, as disclosed in a recent SEC filing on October 25, 2025. The asset management firm sold 2,445 shares, leaving them with 11,818 shares valued at approximately $4.57 million. This move comes amidst varied analyst ratings for Adobe, with some maintaining a "Strong Buy" and target prices ranging from $280.00 to $500.00. This institutional ownership change occurs as Adobe's stock has seen a slight downturn, trading down 0.2% recently. The broader context for Adobe includes a recent stock underperformance compared to its sector, with a 10.4% decline in the past month. This is attributed to increased competition in the AI and generative AI space. Despite this, Adobe exceeded recent quarterly earnings expectations, reporting revenue of $5.99 billion, a 10.7% year-over-year increase.