Adobe Inc. (NASDAQ:ADBE - Get Free Report)'s stock price traded down 1.4% during mid-day trading on Tuesday . The company traded as low as $474.03 and last traded at $476.29. 690,649 shares were traded during trading, a decline of 79% from the average session volume of 3,357,121 shares. The stock had previously closed at $483.11.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ADBE. Barclays decreased their price objective on Adobe from $700.00 to $630.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. DA Davidson reaffirmed a "buy" rating and set a $685.00 price objective on shares of Adobe in a research report on Thursday, March 28th. Evercore ISI reaffirmed an "outperform" rating and set a $650.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. UBS Group decreased their price objective on Adobe from $600.00 to $540.00 and set a "neutral" rating for the company in a research report on Friday, March 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $630.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat, Adobe presently has an average rating of "Moderate Buy" and an average price target of $620.72.
View Our Latest Research Report on ADBE
Adobe Stock Performance
The firm has a market cap of $213.23 billion, a PE ratio of 45.50, a P/E/G ratio of 2.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day moving average price of $499.50 and a 200 day moving average price of $559.73.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The business's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts forecast that Adobe Inc. will post 14.55 earnings per share for the current year.
Adobe announced that its board has initiated a share buyback plan on Thursday, March 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling at Adobe
In other Adobe news, EVP Scott Belsky sold 2,713 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the transaction, the executive vice president now owns 21,114 shares in the company, valued at $10,014,370.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Mark S. Garfield sold 97 shares of the business's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company's stock, valued at approximately $1,933,596.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 2,713 shares of Adobe stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the transaction, the executive vice president now owns 21,114 shares of the company's stock, valued at $10,014,370.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,006 shares of company stock valued at $1,424,432. Company insiders own 0.15% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. One Charles Private Wealth Services LLC grew its stake in shares of Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company's stock worth $400,000 after acquiring an additional 17 shares in the last quarter. Invst LLC grew its stake in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company's stock worth $467,000 after acquiring an additional 17 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company's stock worth $285,000 after acquiring an additional 17 shares in the last quarter. Lantz Financial LLC grew its stake in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company's stock worth $411,000 after acquiring an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management grew its stake in shares of Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company's stock worth $249,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.
About Adobe
(
Get Free Report)
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.
Read More
Before you consider Adobe, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adobe wasn't on the list.
While Adobe currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
