1 week Ago By ABMN Staff
Adobe ( NASDAQ:ADBE – Free Report ) had its price target decreased by UBS Group from $525.00 to $475.00 in a research report released on Friday morning, Benzinga reports.
UBS Group currently has a neutral rating on the software company’s stock. Several other equities research analysts also recently commented on ADBE. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th.
Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.
00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Oppenheimer dropped their price objective on shares of Adobe from $625.00 to $600.
00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho reduced their target price on Adobe from $640.00 to $620.
00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock.
Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $582.96.
Check Out Our Latest Stock Report on ADBE Adobe Stock Performance Adobe ( NASDAQ:ADBE – Get Free Report ) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.
67 by $0.14. The company had revenue of $5.
61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.
85% and a return on equity of 45.22%. The firm’s revenue for the quarter was up 11.
1% compared to the same quarter last year. During the same period last year, the firm earned $3.52 EPS.
Sell-side analysts expect that Adobe will post 16.73 EPS for the current year. Insider Activity In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th.
The shares were sold at an average price of $550.00, for a total value of $333,300.00.
Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock.
The sale was disclosed in a filing with the SEC, which is available through the SEC website . Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction 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 of the company’s stock, valued at $1,316,693.
55. This represents a 19.94 % decrease in their position.
The disclosure for this sale can be found here . Insiders sold a total of 3,293 shares of company stock valued at $1,679,809 in the last ninety days. 0.
15% of the stock is owned by insiders. Institutional Trading of Adobe A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in Adobe by 66,909.
7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in shares of Adobe during the 2nd quarter worth approximately $663,745,000.
FMR LLC boosted its holdings in shares of Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter.
Liberty Wealth Management LLC grew its stake in shares of Adobe by 55,496.6% in the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock valued at $318,127,000 after buying an additional 571,615 shares in the last quarter.
Finally, Mercer Global Advisors Inc. ADV increased its holdings in Adobe by 982.4% during the second quarter.
Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after buying an additional 491,627 shares during the last quarter. 81.
79% of the stock is currently owned by institutional investors. Adobe Company Profile ( 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. See Also 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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