8,536 Shares in Adobe Inc. $ADBE Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth initiated a position in Adobe by purchasing 8,536 shares valued at approximately $1.75 million. Other institutional investors also added stakes, with institutions collectively owning 81.79% of the company.
• Analyst sentiment remains mixed: seven analysts rate Adobe a Buy, 21 recommend Hold and five rate it Sell. The consensus rating is Hold, with an average price target of $270.96.
• Adobe exceeded quarterly expectations, reporting $5.96 in EPS and $6.62 billion in revenue, up 12.7% year over year. Investors are evaluating whether expanded Firefly AI tools and Adobe’s freemium strategy can translate into sustained paid growth.

NewEdge Wealth LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,536 shares of the software company's stock, valued at approximately $1,750,000.

Several other large investors have also added to or reduced their stakes in ADBE. Empirical Asset Management LLC acquired a new stake in shares of Adobe during the second quarter worth about $268,000. Palmer Knight Co purchased a new stake in Adobe in the second quarter valued at approximately $4,567,000. Great Lakes Advisors LLC acquired a new position in Adobe in the 2nd quarter worth approximately $317,000. Compass Wealth Management LLC acquired a new position in Adobe in the 2nd quarter worth approximately $547,000. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in Adobe during the 2nd quarter worth approximately $5,053,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. DA Davidson dropped their price objective on shares of Adobe from $300.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, June 12th. Robert W. Baird reduced their target price on shares of Adobe from $270.00 to $230.00 and set a "neutral" rating for the company in a report on Friday, June 12th. CLSA initiated coverage on shares of Adobe in a research report on Monday, July 20th. They set an "outperform" rating and a $300.00 target price for the company. The Goldman Sachs Group lowered their price target on shares of Adobe from $220.00 to $190.00 and set a "sell" rating on the stock in a report on Friday, June 12th. Finally, BMO Capital Markets cut their price target on Adobe from $285.00 to $230.00 and set a "market perform" rating on the stock in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $270.96.

Adobe Price Performance

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

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Thursday, June 11th. The software company reported $5.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the firm posted $5.06 earnings per share. The firm's quarterly 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. Analysts expect that Adobe Inc. will post 19.81 EPS for the current year.

Key Headlines Impacting Adobe

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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