Adobe (NASDAQ:ADBE) Stock Price Down 1.6% - Time to Sell?

Shares of Adobe Inc. (NASDAQ:ADBE - Get Free Report) fell 1.6% during trading on Wednesday . The company traded as low as $377.74 and last traded at $376.14. 625,195 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,425,440 shares. The stock had previously closed at $382.24.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADBE. Evercore ISI reaffirmed an "outperform" rating and issued a $475.00 price target on shares of Adobe in a report on Friday, June 13th. DA Davidson reiterated a "buy" rating and set a $500.00 price objective on shares of Adobe in a research report on Friday, June 20th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Finally, Rothschild & Co Redburn cut shares of Adobe from a "neutral" rating to a "sell" rating and set a $280.00 target price on the stock. in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $480.08.

Adobe Stock Down 2.3%

The stock's 50 day simple moving average is $396.48 and its two-hundred day simple moving average is $407.17. The firm has a market cap of $158.39 billion, a P/E ratio of 23.89, a P/E/G ratio of 1.79 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.99.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter last year, the company earned $4.48 EPS. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADBE. Copia Wealth Management purchased a new stake in Adobe during the 4th quarter valued at $28,000. SWAN Capital LLC bought a new position in shares of Adobe during the fourth quarter valued at $28,000. 1248 Management LLC purchased a new stake in shares of Adobe during the first quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Adobe in the 1st quarter worth about $26,000. Finally, Summit Securities Group LLC purchased a new position in Adobe in the 4th quarter worth about $31,000. 81.79% of the stock is owned by hedge funds and other 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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