Harvey Investment Co. LLC Has $8.82 Million Stake in Adobe Inc. $ADBE

Harvey Investment Co. LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 24,991 shares of the software company’s stock after acquiring an additional 2,890 shares during the quarter. Adobe comprises about 0.9% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 27th biggest position. Harvey Investment Co. LLC’s holdings in Adobe were worth $8,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lathrop Investment Management Co. lifted its holdings in Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares during the last quarter. Mcdaniel Terry & Co. lifted its holdings in Adobe by 2.8% during the 2nd quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after buying an additional 1,093 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in Adobe by 16.1% in the third quarter. SteelPeak Wealth LLC now owns 29,055 shares of the software company’s stock valued at $10,249,000 after acquiring an additional 4,021 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $34,922,000. Finally, Jackson Thornton Wealth Management LLC bought a new stake in shares of Adobe during the 2nd quarter valued at $328,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Down 4.8%

Shares of ADBE opened at $333.30 on Monday. The stock’s 50-day moving average price is $338.29 and its two-hundred day moving average price is $351.26. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $139.52 billion, a PE ratio of 19.95, a PEG ratio of 1.31 and a beta of 1.53. Adobe Inc. has a 12 month low of $311.58 and a 12 month high of $465.70.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $0.10. The business had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Adobe from $450.00 to $425.00 and set an “equal weight” rating on the stock in a report on Thursday, December 11th. Mizuho dropped their target price on Adobe from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $430.00 price objective on shares of Adobe in a research report on Thursday, December 11th. DA Davidson reiterated a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Thursday, December 11th. Finally, UBS Group set a $487.00 target price on Adobe in a research note on Sunday, December 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $414.22.

Adobe Company Profile

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.