By otakuyassine3@gmail.com 
Adobe Inc. (NASDAQ:ADBE – Get Free Report) rose 1.7% during mid-day trading on Monday . The stock traded as high as $444.98 and last traded at $442.85. Approximately 1,110,276 shares traded hands during trading, a decline of 70% from the average daily volume of 3,727,877 shares. The stock had previously closed at $435.38.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ADBE. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Barclays lowered their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, Citigroup cut their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $573.00.
View Our Latest Stock Report on ADBE
Adobe Trading Down 0.3 %
The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $465.79 and its two-hundred day moving average is $505.60. The firm has a market cap of $192.26 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.12 and a beta of 1.31.
Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
Insider Activity at Adobe
In related news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Adobe
A number of hedge funds and other institutional investors have recently made changes to their positions in ADBE. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new position in Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe during the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC grew its holdings in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is owned by institutional investors.
About Adobe
Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.
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