Adobe (NASDAQ:ADBE) Sees Unusually-High Trading Volume

Adobe Inc. (NASDAQ:ADBE - Get Free Report) saw strong trading volume on Friday . 2,969,802 shares traded hands during mid-day trading, an increase of 16% from the previous session's volume of 2,552,274 shares.The stock last traded at $565.27 and had previously closed at $590.44.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and set a $615.00 target price on shares of Adobe in a research report on Thursday, December 14th. BMO Capital Markets upped their price target on shares of Adobe from $670.00 to $690.00 and gave the company an "outperform" rating in a report on Friday, December 8th. BNP Paribas downgraded shares of Adobe from a "neutral" rating to an "underperform" rating and set a $499.00 price target on the stock. in a report on Thursday, January 18th. Citigroup upped their price target on shares of Adobe from $610.00 to $675.00 and gave the company a "neutral" rating in a report on Tuesday, December 12th. Finally, Barclays raised shares of Adobe from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $680.00 to $700.00 in a research note on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $613.14.

Adobe Stock Down 4.1 %

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $255.90 billion, a P/E ratio of 49.99, a P/E/G ratio of 3.18 and a beta of 1.34. The stock's 50 day simple moving average is $603.23 and its 200 day simple moving average is $569.30.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Wednesday, December 13th. The software company reported $4.27 EPS for the quarter, beating analysts' consensus estimates of $4.13 by $0.14. Adobe had a net margin of 27.97% and a return on equity of 38.30%. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the firm posted $2.78 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Adobe Inc. will post 14.6 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 788 shares of the firm's stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the transaction, the chief accounting officer now owns 4,055 shares of the company's stock, valued at approximately $2,495,528.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $615.42, for a total value of $484,950.96. Following the transaction, the chief accounting officer now owns 4,055 shares of the company's stock, valued at approximately $2,495,528.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Wadhwani sold 6,099 shares of Adobe stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $571.77, for a total transaction of $3,487,225.23. Following the completion of the transaction, the insider now directly owns 7,614 shares in the company, valued at approximately $4,353,456.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,425 shares of company stock valued at $26,431,673. Company insiders own 0.24% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Adobe by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 40,266,172 shares of the software company's stock worth $24,022,798,000 after acquiring an additional 603,302 shares in the last quarter. State Street Corp boosted its holdings in shares of Adobe by 1.2% during the second quarter. State Street Corp now owns 18,862,098 shares of the software company's stock worth $9,223,377,000 after purchasing an additional 229,776 shares during the period. Morgan Stanley boosted its holdings in shares of Adobe by 2.7% during the third quarter. Morgan Stanley now owns 10,371,262 shares of the software company's stock worth $5,288,309,000 after purchasing an additional 277,484 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Adobe by 3.2% during the second quarter. Geode Capital Management LLC now owns 9,762,185 shares of the software company's stock worth $4,762,147,000 after purchasing an additional 301,062 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Adobe by 10.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,497,332 shares of the software company's stock worth $3,876,309,000 after purchasing an additional 590,533 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Adobe Company Profile

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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