6 hours Ago By ABMN Staff
StockNews.com upgraded shares of Adobe ( NASDAQ:ADBE – Free Report ) from a buy rating to a strong-buy rating in a research report released on Wednesday. Other equities research analysts have also recently issued research reports about the company.
Sanford C. Bernstein decreased their price objective on Adobe from $644.00 to $587.
00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Morgan Stanley reiterated an “overweight” rating and set a $660.
00 target price on shares of Adobe in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Adobe from $650.00 to $600.
00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho reduced their target price on Adobe from $640.00 to $620.
00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $584.
88. Get Our Latest Stock Analysis on Adobe Adobe Price Performance Adobe ( NASDAQ:ADBE – Get Free Report ) last announced its earnings results on Wednesday, December 11th. The software company reported $4.
81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14.
Adobe had a net margin of 25.85% and a return on equity of 45.22%.
The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion.
During the same quarter in the previous year, the business posted $3.52 earnings per share. The firm’s quarterly revenue was up 11.
1% compared to the same quarter last year. As a group, equities analysts expect that Adobe will post 16.73 EPS for the current fiscal year.
Insider Activity In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.
02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76.
The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website .
Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.
00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.
81 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last 90 days, insiders sold 28,293 shares of company stock worth $14,719,309.
Insiders own 0.15% of the company’s stock. Hedge Funds Weigh In On Adobe Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE.
GYL Financial Synergies LLC lifted its stake in shares of Adobe by 2.1% in the second quarter. GYL Financial Synergies LLC now owns 2,138 shares of the software company’s stock worth $1,188,000 after buying an additional 44 shares during the last quarter.
HTLF Bank boosted its stake in shares of Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock valued at $327,000 after purchasing an additional 19 shares in the last quarter.
&PARTNERS grew its stake in Adobe by 99.9% during the second quarter. &PARTNERS now owns 3,862 shares of the software company’s stock worth $2,145,000 after buying an additional 1,930 shares during the last quarter.
Goldstein Advisors LLC increased its holdings in Adobe by 4.7% during the 2nd quarter. Goldstein Advisors LLC now owns 1,547 shares of the software company’s stock valued at $859,000 after purchasing an additional 69 shares in the last quarter.
Finally, Cornerstone Wealth Group LLC increased its stake in shares of Adobe by 13.0% in the second quarter. Cornerstone Wealth Group LLC now owns 1,250 shares of the software company’s stock valued at $694,000 after buying an additional 144 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. Read More 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.
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