Adobe Inc. (NASDAQ:ADBE – Get Rating) CAO Mark S. Garfield sold 209 shares of the firm's stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $355.42, for a total transaction of $74,282.78. Following the sale, the chief accounting officer now owns 3,479 shares of the company's stock, valued at approximately $1,236,506.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Adobe Stock Performance
ADBE traded up $7.65 during trading on Thursday, reaching $365.82. The company's stock had a trading volume of 2,348,511 shares, compared to its average volume of 2,412,624. The company has a market capitalization of $167.47 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The company's fifty day moving average price is $338.35 and its 200-day moving average price is $347.56. Adobe Inc. has a 52-week low of $274.73 and a 52-week high of $540.46. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.
Get Adobe alerts:Adobe (NASDAQ:ADBE – Get Rating) last posted its quarterly earnings results on Thursday, December 15th. The software company reported $2.78 earnings per share for the quarter, meeting analysts' consensus estimates of $2.78. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.52 billion. Adobe had a return on equity of 36.74% and a net margin of 27.01%. On average, equities analysts forecast that Adobe Inc. will post 12.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. VELA Investment Management LLC boosted its position in Adobe by 122.2% during the first quarter. VELA Investment Management LLC now owns 1,958 shares of the software company's stock worth $892,000 after purchasing an additional 1,077 shares in the last quarter. Bornite Capital Management LP acquired a new position in shares of Adobe during the 1st quarter worth $15,947,000. United Bank grew its stake in Adobe by 34.7% in the 1st quarter. United Bank now owns 2,109 shares of the software company's stock valued at $961,000 after acquiring an additional 543 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Adobe by 21.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 525,897 shares of the software company's stock valued at $239,609,000 after acquiring an additional 91,328 shares in the last quarter. Finally, Ergoteles LLC raised its position in Adobe by 138.3% during the first quarter. Ergoteles LLC now owns 6,651 shares of the software company's stock worth $3,030,000 after acquiring an additional 3,860 shares during the last quarter. 79.36% of the stock is owned by hedge funds and other institutional investors.Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Adobe from $337.00 to $382.00 and gave the stock an "equal weight" rating in a research note on Friday, December 16th. BMO Capital Markets raised their price objective on Adobe from $332.00 to $390.00 and gave the stock a "market perform" rating in a research report on Friday, December 16th. Credit Suisse Group decreased their target price on shares of Adobe from $350.00 to $325.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 19th. StockNews.com cut shares of Adobe from a "buy" rating to a "hold" rating in a research report on Wednesday, January 11th. Finally, Wells Fargo & Company upped their price objective on shares of Adobe from $310.00 to $340.00 in a report on Wednesday, December 14th. Sixteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Adobe currently has an average rating of "Hold" and an average target price of $412.81.
Adobe Company Profile
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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.
Further Reading
- Get a free copy of the StockNews.com research report on Adobe (ADBE)
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