Adobe Inc. (NASDAQ:ADBE) Director Sells $333,300.00 in Stock

Adobe Inc. (NASDAQ:ADBE) Director Amy Banse sold 606 shares of Adobe stock in a transaction 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 completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Adobe Stock Performance

ADBE opened at $474.63 on Friday. The firm has a fifty day moving average price of $506.57 and a 200 day moving average price of $523.36. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25. The stock has a market cap of $208.93 billion, a P/E ratio of 40.02, a P/E/G ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted 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. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company posted $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 14.82 earnings per share for the current year.

Institutional Trading of Adobe

Several institutional investors have recently bought and sold shares of the business. Public Sector Pension Investment Board increased its holdings in Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after purchasing an additional 1,412 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares in the last quarter. Morse Asset Management Inc raised its position in shares of Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Adobe by 13.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 78,682 shares of the software company’s stock valued at $40,740,000 after buying an additional 9,519 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday. Oppenheimer lowered their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday. Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group cut their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $584.88.

About Adobe

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.