6 days Ago By ABMN Staff
Adobe ( NASDAQ:ADBE – Free Report ) had its price objective decreased by DA Davidson from $600.00 to $450.00 in a research note published on Monday morning, Benzinga reports.
DA Davidson currently has a buy rating on the software company’s stock. Other equities research analysts also recently issued research reports about the stock. Robert W.
Baird dropped their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th.
BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Morgan Stanley cut their target price on Adobe from $660.
00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup cut their target price 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. Finally, Oppenheimer decreased their price target on Adobe from $560.
00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company.
According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $518.46. View Our Latest Stock Report on ADBE Adobe Trading Down 0.
4 % Adobe ( NASDAQ:ADBE – Get Free Report ) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.
97 by $0.11. Adobe had a return on equity of 45.
87% and a net margin of 25.85%. The company 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 posted $4.
48 EPS. Research analysts forecast that Adobe will post 16.65 earnings per share for the current fiscal year.
Insiders Place Their Bets In related news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.
00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08.
The trade was a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website .
Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.
56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16.
The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here .
Insiders sold 5,075 shares of company stock valued at $2,191,826 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.
Institutional Trading of Adobe Hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp raised its stake in shares of Adobe by 3.9% in the third quarter.
M&T Bank Corp now owns 156,198 shares of the software company’s stock valued at $80,876,000 after purchasing an additional 5,905 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Adobe during the 3rd quarter valued at about $4,167,000. Morse Asset Management Inc increased its stake in Adobe by 32.
6% in the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company’s stock valued at $4,398,000 after acquiring an additional 2,088 shares during the period. Te Ahumairangi Investment Management Ltd raised its position in Adobe by 12.
9% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company’s stock worth $2,294,000 after purchasing an additional 510 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Adobe by 1.
6% during the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company’s stock worth $8,420,000 after purchasing an additional 255 shares in the last quarter. Institutional investors 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. Further Reading Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter .
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