Adobe Inc. (NASDAQ:ADBE) EVP Gloria Chen sold 43 shares of the business's stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $513.57, for a total value of $22,083.51. Following the transaction, the executive vice president now owns 11,558 shares of the company's stock, valued at $5,935,842.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Gloria Chen also recently made the following trade(s):
- On Thursday, March 25th, Gloria Chen sold 43 shares of Adobe stock. The shares were sold at an average price of $447.66, for a total value of $19,249.38.
Shares of ADBE traded up $1.62 during midday trading on Tuesday, reaching $517.32. 141,577 shares of the stock were exchanged, compared to its average volume of 2,708,804. Adobe Inc. has a 52 week low of $332.57 and a 52 week high of $536.88. The company's 50 day moving average is $478.34 and its two-hundred day moving average is $479.36. The company has a market capitalization of $247.28 billion, a P/E ratio of 47.69, a PEG ratio of 2.55 and a beta of 0.97. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Monday, March 22nd. The software company reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.79 by $0.35. Adobe had a return on equity of 35.81% and a net margin of 40.88%. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $2.27 earnings per share. The firm's revenue for the quarter was up 26.3% compared to the same quarter last year. On average, sell-side analysts expect that Adobe Inc. will post 9.47 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Carmichael Hill & Associates Inc. purchased a new stake in Adobe in the fourth quarter valued at about $25,000. Concord Wealth Partners purchased a new stake in Adobe in the fourth quarter valued at about $32,000. Cordasco Financial Network raised its stake in Adobe by 54.3% in the fourth quarter. Cordasco Financial Network now owns 71 shares of the software company's stock valued at $36,000 after buying an additional 25 shares during the last quarter. Capstone Triton Financial Group LLC purchased a new stake in Adobe in the fourth quarter valued at about $46,000. Finally, Curi Capital purchased a new stake in Adobe in the fourth quarter valued at about $48,000. 82.43% of the stock is currently owned by institutional investors.
ADBE has been the subject of a number of recent research reports. Wolfe Research began coverage on Adobe in a research note on Thursday, April 22nd. They set an "outperform" rating and a $650.00 price objective for the company. Stifel Nicolaus began coverage on Adobe in a research note on Friday, January 15th. They issued a "buy" rating for the company. Bank of America restated a "buy" rating and issued a $570.00 price target on shares of Adobe in a research note on Wednesday, April 14th. JPMorgan Chase & Co. upped their price target on Adobe from $585.00 to $595.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 24th. Finally, UBS Group restated a "buy" rating on shares of Adobe in a research note on Thursday, April 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company's stock. The stock currently has an average rating of "Buy" and a consensus target price of $551.68.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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