During the third quarter, E. Ohman J or Asset Management AB slashed its position in Adobe Inc. by 77.9%, selling 63,644 shares and retaining just 18,014 shares valued at $6.35 million as of its latest SEC filing. This dramatic reduction contrasts with modest adjustments by other institutional investors: Brighton Jones LLC increased its holding by 2.1% to 8,068 shares worth $3.59 million, while Quantbot Technologies LP and WPG Advisers LLC each initiated new positions valued at $59,000. Magnetar Financial LLC expanded its stake by 254%, adding 1,852 shares to reach 2,581 shares ($990,000), and Evergreen Capital Management LLC boosted its position by 88.3% to 6,069 shares ($2.33 million). Institutional investors now hold 81.79% of the company’s outstanding stock, underscoring the weight of these portfolio shifts for market watchers.

Brokerages have been revising their outlooks on Adobe’s shares. Mizuho lowered its target from $410 to $390 while maintaining an outperform rating. UBS Group pegged its objective at $487, and Jefferies Financial Group trimmed its target from $590 to $500, both retaining buy recommendations. Weiss Ratings reiterated a hold (c) grading, and Redburn Partners set a $280 target in early September. Among 29 analysts covering the stock, one rates it as Strong Buy, fourteen as Buy, eleven as Hold and three as Sell, yielding a consensus recommendation of Hold and an average target of $417.93.

In the quarter ended December 10th, Adobe posted revenue of $6.19 billion, up 10.5% year-over-year, and non-GAAP EPS of $5.50, beating the consensus by $0.10. Net margin stood at 30%, while return on equity reached 61.3%. For the upcoming fiscal periods, management forecast first-quarter EPS of $5.85–5.90 and full-year EPS of $23.30–23.50, implying mid-single-digit revenue growth. The company’s subscription base and recurring ARR remain key drivers, with AI-powered product adoption cited as a growth catalyst in its earnings release.