By otakuyassine3@gmail.com 
Adobe (NASDAQ:ADBE – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.
Several other research firms have also recently commented on ADBE. Bank of America lowered their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group dropped their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. DA Davidson decreased their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $584.88.
Read Our Latest Stock Analysis on Adobe
Adobe Stock Down 3.1 %
Shares of Adobe stock traded down $13.92 during trading hours on Wednesday, reaching $441.31. 6,499,412 shares of the company were exchanged, compared to its average volume of 3,273,548. The firm has a market cap of $194.26 billion, a PE ratio of 35.59, a PEG ratio of 2.51 and a beta of 1.29. The stock’s fifty day moving average is $502.76 and its 200 day moving average is $523.19. Adobe has a 1 year low of $433.97 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.
Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 EPS. Adobe’s revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Adobe will post 16.73 earnings per share for the current year.
Insider Buying and Selling at Adobe
In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated 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 sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,293 shares of company stock worth $14,719,309. 0.15% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. 1ST Source Bank lifted its stake in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares during the period. DGS Capital Management LLC lifted its position in shares of Adobe by 1.8% during the 3rd quarter. DGS Capital Management LLC now owns 2,436 shares of the software company’s stock valued at $1,261,000 after acquiring an additional 42 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Adobe during the 3rd quarter valued at approximately $14,622,000. Inspire Trust Co. N.A. boosted its stake in shares of Adobe by 9.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 5,714 shares of the software company’s stock worth $2,959,000 after acquiring an additional 475 shares in the last quarter. Finally, American Trust acquired a new stake in shares of Adobe in the 3rd quarter worth approximately $1,057,000. Institutional investors and hedge funds own 81.79% of the company’s stock.
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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