In the third quarter, Harel Insurance Investments & Financial Services Ltd. reduced its position in Adobe Inc. by 5.3%, selling 1,920 shares to finish the period with 34,305 shares valued at approximately $12.09 million. Other notable moves include LSV Asset Management expanding its stake by 350% to 72 shares, Nexus Investment Management ULC initiating a position of roughly $31,000, and Horizon Financial Services LLC boosting holdings by 4,000% to 82 shares. Heartwood Wealth Advisors LLC also entered the register with a $35,000 investment. As of the latest filings, institutional investors and hedge funds collectively own 81.79% of Adobe’s outstanding shares.

Adobe reported quarterly earnings per share of $5.50, surpassing consensus estimates by $0.10, and generated revenue of $6.19 billion, a 10.5% increase year-over-year and $80 million above analyst forecasts. Net margin remained robust at 30%, while return on equity stood at 61.28%. For the first quarter of fiscal 2026, management has guided EPS between $5.85 and $5.90, and full-year EPS between $23.30 and $23.50. Equities analysts currently project full-year earnings of $16.65 per share for the current fiscal period.

Over the past two months, several brokerages have revised their outlooks on Adobe. TD Cowen downgraded to a hold rating while trimming its target to $400, and Goldman Sachs initiated coverage with a sell rating and a $290 target. Robert W. Baird maintained a positive view with a $350 objective, whereas Oppenheimer and BMO Capital Markets each lowered their ratings to market perform, with BMO adjusting its target from $400 to $375. Overall, analysts’ consensus remains a Hold, with one strong buy, eleven buys, twelve holds and four sells contributing to an average target of $402.85.