Adobe Inc. $ADBE Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,982 shares of the software company’s stock after purchasing an additional 24,451 shares during the period. Adobe makes up 0.8% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 22nd biggest position. Kovitz Investment Group Partners LLC owned approximately 0.14% of Adobe worth $208,469,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. CX Institutional grew its holdings in shares of Adobe by 72.9% in the third quarter. CX Institutional now owns 27,922 shares of the software company’s stock valued at $9,849,000 after purchasing an additional 11,769 shares during the period. Wright Investors Service Inc. boosted its holdings in Adobe by 114.4% in the 3rd quarter. Wright Investors Service Inc. now owns 9,919 shares of the software company’s stock valued at $3,499,000 after purchasing an additional 5,293 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Adobe by 185.1% in the 3rd quarter. Federated Hermes Inc. now owns 898,408 shares of the software company’s stock valued at $316,913,000 after purchasing an additional 583,275 shares during the last quarter. Lathrop Investment Management Co. grew its stake in shares of Adobe by 2.8% in the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after buying an additional 718 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Adobe by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 106,598 shares of the software company’s stock worth $38,309,000 after buying an additional 32,448 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BMO Capital Markets cut Adobe from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $400.00 to $375.00 in a report on Friday, January 9th. The Goldman Sachs Group started coverage on Adobe in a research note on Monday, January 12th. They issued a “sell” rating and a $290.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $430.00 price target on shares of Adobe in a report on Thursday, December 11th. Mizuho reduced their price objective on shares of Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Wolfe Research decreased their target price on shares of Adobe from $450.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $397.16.

Adobe News Summary

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Adobe’s results and forward guidance remain supportive: the company beat recent estimates, delivered strong margins and set FY26 and Q1 guidance that suggests continued cash generation and profit resilience. Reasons Why Adobe (ADBE) Offers Such Impressive Upside
• Positive Sentiment: Broader sector relief after upbeat AI-related results at other software firms (RingCentral, Five9) reduces “AI will kill SaaS” fear — a tailwind for Adobe if investors re-appraise AI as demand-enhancing rather than disruptive. Beaten-down software stocks RingCentral and Five9 rally as earnings quell some AI concerns
• Neutral Sentiment: Figma’s strong results and Anthropic integration highlight accelerating AI adoption in design workflows — this validates the market opportunity for AI-enabled tools but also raises competitive dynamics Adobe must navigate. Figma’s Anthropic Integration Could Flip the SaaSpocalypse Script (ADBE)
• Neutral Sentiment: Several valuation and review pieces are re-focusing investor attention on Adobe’s multiples and long-term returns — helpful for longer-term thesis but not dispositive for near-term price moves. Assessing Adobe’s Valuation As Recent Share Performance Brings The Stock Back Into Focus
• Neutral Sentiment: Third‑party reviews mention Adobe alongside other software names; useful context but unlikely to move the stock on its own. Reviewing Rand Worldwide (OTCMKTS:RWWI) and Adobe (NASDAQ:ADBE)
• Neutral Sentiment: Reported short‑interest data appears inconsistent (published figures show zero shares), suggesting the short‑interest readings may be a data glitch and should be treated cautiously.
• Negative Sentiment: Unusually large put‑option activity: traders bought ~188,902 puts (a ~248% jump vs. typical daily put volume), signaling elevated hedging or outright bearish positioning that can add to downward pressure.
• Negative Sentiment: Analyst caution and recent downgrades / cautious commentary have crept into coverage as Adobe trades nearer its multi‑month lows, which can amplify selling if sentiment deteriorates. Why Wall Street Is Turning Cautious on Adobe Inc. (ADBE)

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 1,646 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $294.85, for a total value of $485,323.10. Following the completion of the transaction, the chief financial officer owned 41,995 shares of the company’s stock, valued at $12,382,225.75. This trade represents a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

ADBE opened at $258.61 on Friday. The stock’s 50-day moving average price is $309.33 and its 200 day moving average price is $331.77. Adobe Inc. has a 12-month low of $251.10 and a 12-month high of $453.75. The firm has a market cap of $106.16 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.02 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.40 by $0.10. The company had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.81 earnings per share. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.

The company’s core offerings are organized around digital media and digital experience.