Shares of Adobe Inc. (NASDAQ:ADBE - Get Free Report) rose 0.9% on Monday . The stock traded as high as $383.81 and last traded at $384.19. Approximately 380,910 shares traded hands during trading, a decline of 89% from the average daily volume of 3,425,724 shares. The stock had previously closed at $380.87.
Analyst Ratings Changes
ADBE has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Evercore ISI lowered their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, BMO Capital Markets reduced their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $502.88.
Read Our Latest Research Report on ADBE
Adobe Trading Up 0.6 %
The stock has a market cap of $165.14 billion, a P/E ratio of 31.24, a PEG ratio of 2.15 and a beta of 1.55. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business's 50 day simple moving average is $382.06 and its two-hundred day simple moving average is $438.62.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.
Insider Buying and Selling
In other news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Adobe
A number of large investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after buying an additional 39,888 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe during the first quarter valued at $26,000. SWAN Capital LLC purchased a new position in shares of Adobe in the 4th quarter worth about $28,000. Copia Wealth Management bought a new position in Adobe in the 4th quarter worth about $28,000. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe during the 4th quarter valued at about $31,000. Institutional investors own 81.79% of the company's stock.
Adobe Company Profile
(
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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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