Tocqueville Asset Management L.P. Buys New Holdings in Adobe Inc. $ADBE

Tocqueville Asset Management L.P. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the second quarter, HoldingsChannel.com reports. The firm purchased 25,476 shares of the software company’s stock, valued at approximately $5,223,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nicholas Company Inc. boosted its position in shares of Adobe by 7.6% in the fourth quarter. Nicholas Company Inc. now owns 174,626 shares of the software company’s stock worth $61,117,000 after buying an additional 12,400 shares during the period. Teacher Retirement System of Texas grew its position in shares of Adobe by 13.4% during the fourth quarter. Teacher Retirement System of Texas now owns 215,611 shares of the software company’s stock worth $75,462,000 after buying an additional 25,435 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Adobe by 13.2% during the 4th quarter. Wealthfront Advisers LLC now owns 55,179 shares of the software company’s stock worth $19,312,000 after acquiring an additional 6,426 shares in the last quarter. Orange Investment Advisors Inc. grew its stake in Adobe by 21.6% in the fourth quarter. Orange Investment Advisors Inc. now owns 29,541 shares of the software company’s stock worth $10,339,000 after purchasing an additional 5,254 shares in the last quarter. Finally, Milestone Asset Management LLC increased its holdings in shares of Adobe by 426.2% in the 4th quarter. Milestone Asset Management LLC now owns 7,478 shares of the software company’s stock valued at $2,617,000 after acquiring an additional 6,057 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 0.1%

Shares of NASDAQ ADBE opened at $272.22 on Friday. Adobe Inc. has a 12-month low of $190.12 and a 12-month high of $370.86. The company has a market cap of $108.21 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $231.18 and its 200 day simple moving average is $244.78.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $5.82 by $0.14. Adobe had a return on equity of 65.11% and a net margin of 28.69%.The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the business earned $5.06 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. Equities research analysts expect that Adobe Inc. will post 19.81 EPS for the current year.

Key Adobe News

Here are the key news stories impacting Adobe this week:

• Positive Sentiment: Expanded Firefly AI capabilities: Adobe made Firefly’s AI-generated music, voiceovers, speech and sound-effects tools generally available. The production-oriented features could strengthen Adobe’s position in creative software, increase user engagement and create additional monetization opportunities. Adobe Firefly adds AI music, voiceovers and sound effects
• Positive Sentiment: Improving AI investor sentiment: Bank of America raised its price target for Adobe, citing the company’s potential to monetize artificial intelligence. This reflects growing optimism that Adobe’s broad creative and document ecosystem can benefit from AI demand. ServiceNow, Adobe, Workday stocks get BofA PT boost
• Positive Sentiment: Recovery thesis remains intact: Recent commentary highlights Adobe’s relatively low valuation, strong free-cash-flow generation and potential for a sustained recovery as its AI strategy develops. Another analysis describes the shares as undervalued despite the recent rally. Adobe: Strong Recovery Is Just Beginning
• Neutral Sentiment: AI strategy is still being evaluated: Adobe is broadening access to AI tools through a freemium approach and has paused price increases to expand its user base. The strategy may support double-digit recurring-revenue growth, but investors need proof that wider adoption will translate into durable paid revenue. Is Adobe Below Fair Value On Its Freemium AI Push?
• Negative Sentiment: Conflicting Bank of America signal: Although BofA increased its target from $190 to $220, it retained an “underperform” rating. The target remains below the prevailing share price, signaling concern that Adobe’s AI progress may not yet justify the stock’s recovery. Benzinga analyst update

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho reduced their price objective on Adobe from $270.00 to $245.00 and set a “neutral” rating on the stock in a research note on Friday, June 12th. KeyCorp lowered their target price on shares of Adobe from $235.00 to $195.00 and set an “underweight” rating for the company in a research note on Friday, June 12th. Dbs Bank cut shares of Adobe from a “moderate buy” rating to a “hold” rating in a report on Tuesday, May 19th. Piper Sandler reduced their price target on shares of Adobe from $280.00 to $240.00 and set a “neutral” rating on the stock in a research report on Friday, June 12th. Finally, Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $270.96.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total value of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at $1,010,797.92. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks bought 10,000 shares of Adobe stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $194.51 per share, with a total value of $1,945,100.00. Following the completion of the purchase, the director directly owned 17,655 shares in the company, valued at $3,434,074.05. This trade represents a 130.63% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.20% of the company’s stock.

Adobe 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.