NewEdge Wealth LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund acquired 8,536 shares of the software company’s stock, valued at approximately $1,750,000.
A number of other institutional investors and hedge funds have also modified their holdings of ADBE. Western Pacific Wealth Management LP acquired a new stake in Adobe in the 4th quarter worth about $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Adobe during the third quarter valued at approximately $26,000. TrustBank purchased a new position in shares of Adobe in the fourth quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Adobe in the second quarter valued at approximately $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Adobe in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.
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
Adobe Trading Down 0.1%
Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.82 by $0.14. Adobe had a net margin of 28.69% and a return on equity of 65.11%. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the business earned $5.06 earnings per share. Adobe’s revenue was up 12.7% compared to the same quarter last year. Adobe has set its FY 2026 guidance at 24.350-24.450 EPS and its Q3 2026 guidance at 6.050-6.100 EPS. As a group, equities analysts predict that Adobe Inc. will post 19.81 earnings per share for the current year.
Wall Street Analyst Weigh In
ADBE has been the subject of several research reports. Wall Street Zen cut Adobe from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Evercore set a $225.00 target price on shares of Adobe and gave the stock an “in-line” rating in a research note on Friday, June 12th. The Goldman Sachs Group dropped their target price on shares of Adobe from $220.00 to $190.00 and set a “sell” rating for the company in a report on Friday, June 12th. Citigroup reiterated a “market perform” rating on shares of Adobe in a report on Friday, June 12th. Finally, Wolfe Research lowered shares of Adobe from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $270.96.
Insider Buying and Selling
In other news, Director David A. Ricks purchased 10,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $194.51 per share, for a total transaction of $1,945,100.00. Following the acquisition, the director directly owned 17,655 shares of the company’s stock, valued at approximately $3,434,074.05. This represents a 130.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 416 shares of Adobe stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $264.33, for a total transaction of $109,961.28. Following the sale, the chief accounting officer directly owned 3,824 shares in the company, valued at approximately $1,010,797.92. The trade was a 9.81% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is owned by company insiders.
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.
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