Tocqueville Asset Management L.P. Acquires New Shares in Adobe Inc. $ADBE

Key Points

• Tocqueville Asset Management acquired 25,476 Adobe shares worth approximately $5.2 million, while institutional investors collectively own 81.79% of the company.
• Adobe’s AI strategy is driving optimism, with expanded Firefly tools and a higher Bank of America price target, although BofA maintained an “underperform” rating and analysts broadly remain at a consensus “Hold.”
• Adobe exceeded quarterly expectations, reporting $5.96 in EPS and $6.62 billion in revenue, up 12.7% year over year; shares recently traded at $272.22, well below their 52-week high of $370.86.

Tocqueville Asset Management L.P. bought a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,476 shares of the software company's stock, valued at approximately $5,223,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Brighton Jones LLC grew its position in shares of Adobe by 2.1% in the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after purchasing an additional 167 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Adobe by 25.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,394 shares of the software company's stock valued at $926,000 after buying an additional 486 shares in the last quarter. United Bank grew its holdings in Adobe by 12.8% during the 2nd quarter. United Bank now owns 3,773 shares of the software company's stock valued at $1,460,000 after buying an additional 428 shares during the last quarter. Schnieders Capital Management LLC. increased its position in Adobe by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,630 shares of the software company's stock worth $1,017,000 after buying an additional 190 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Adobe by 190.6% in the second quarter. Gamco Investors INC. ET AL now owns 2,764 shares of the software company's stock worth $1,069,000 after acquiring an additional 1,813 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity

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

Adobe News Roundup

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADBE shares. Stifel Nicolaus reaffirmed a "hold" rating and set a $200.00 price objective (down from $350.00) on shares of Adobe in a research note on Friday, June 12th. Weiss Ratings lowered shares of Adobe from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Wells Fargo & Company decreased their price target on shares of Adobe from $330.00 to $250.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Evercore set a $225.00 price target on shares of Adobe and gave the stock an "in-line" rating 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 report on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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 market cap of $108.21 billion, a P/E ratio of 15.57, a P/E/G ratio of 0.92 and a beta of 1.40. The business has a fifty day simple moving average of $231.18 and a 200-day simple moving average of $244.78. Adobe Inc. has a 52 week low of $190.12 and a 52 week high of $370.86. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.42.

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

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source