14 hours Ago By ABMN Staff
Adobe Inc. ( NASDAQ:ADBE – Get Free Report ) shares traded down 0.4% during trading on Tuesday .
The stock traded as low as $442.57 and last traded at $444.93.
531,747 shares changed hands during trading, a decline of 84% from the average session volume of 3,296,960 shares. The stock had previously closed at $446.74.
Analyst Upgrades and Downgrades ADBE has been the topic of several research reports. Barclays reduced their target price on Adobe from $675.00 to $645.
00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Mizuho reduced their price objective on Adobe from $640.00 to $620.
00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. DA Davidson decreased their price objective on Adobe from $685.00 to $625.
00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets cut their target price on shares of Adobe from $600.00 to $570.
00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company.
According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average price target of $584.88. Check Out Our Latest Stock Report on ADBE Adobe Trading Up 0.
3 % Adobe ( NASDAQ:ADBE – Get Free Report ) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.
67 by $0.14. The company had revenue of $5.
61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.
85% and a return on equity of 45.22%. The firm’s quarterly revenue was up 11.
1% on a year-over-year basis. During the same period in the prior year, the business earned $3.52 EPS.
On average, sell-side analysts expect that Adobe Inc. will post 16.73 EPS for the current fiscal year.
Insider Buying and Selling at Adobe In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.
02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76.
This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink .
Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.
72. Following the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55.
This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here .
Over the last ninety days, insiders sold 3,293 shares of company stock valued at $1,679,809. 0.15% of the stock is currently owned by insiders.
Institutional Inflows and Outflows Institutional investors have recently bought and sold shares of the stock. Piscataqua Savings Bank boosted its stake in shares of Adobe by 226.7% during the 3rd quarter.
Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Adobe during the third quarter worth approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.
8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc.
purchased a new stake in shares of Adobe in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC raised its stake in shares of Adobe by 141.7% during the 3rd quarter.
True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
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