Harel Insurance Investments & Financial Services Ltd. reduced its position in Adobe Inc. by 5.3% during the third quarter, according to its latest Form 13F filing with the SEC. The firm sold 1,920 shares of Adobe, ending the period with 34,305 shares valued at $12,087,000. This marks a continued rebalancing of its technology exposure, reflecting a cautious stance on high-growth software names as part of its broader portfolio adjustments.

While Harel Insurance trimmed its holdings, other institutional investors displayed contrasting behaviour. LSV Asset Management grew its stake by 350%, acquiring 56 additional shares. Horizon Financial Services increased its position by 4,000% with an 80-share purchase, and Nexus Investment Management, Total Investment Management and Heartwood Wealth Advisors collectively added stakes valued between $28,000 and $35,000. Despite these modest buys, hedge funds and institutions still own over 81% of Adobe, underscoring the stock’s central role in large-cap software portfolios.

Adobe’s fiscal Q4 results, released December 10, showed non-GAAP earnings of $5.50 per share versus consensus of $5.40, on revenue of $6.19 billion beating estimates of $6.11 billion. Revenues rose 10.5% year-over-year, driven by strength in Digital Media subscriptions. The company reported a 30% net margin and 61.3% return on equity. For Q1 FY2026, management guided to $5.85–5.90 EPS, and full-year EPS of $23.30–23.50, indicating confidence in continued growth in its Creative Cloud and Experience Cloud segments.