Adobe Inc (ADBE) Short Interest Down 27.2% in February
Adobe Inc (NASDAQ:ADBE) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 4,588,733 shares, a drop of 27.2% from the February 15th total of 6,304,388 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 2,623,039 shares, the short-interest ratio is currently 1.7 days.
ADBE has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Adobe from $309.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 10th. ValuEngine cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. DZ Bank upgraded shares of Adobe from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, December 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $255.00 price target on shares of Adobe in a research report on Friday, December 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have assigned a buy rating to the company. Adobe currently has an average rating of “Buy” and an average target price of $284.44.
In other Adobe news, EVP Ann Lewnes sold 2,692 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total transaction of $608,526.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley Rencher sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $246.46, for a total transaction of $7,393,800.00. Following the transaction, the executive vice president now owns 42,340 shares in the company, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold 282,344 shares of company stock worth $69,007,648 over the last quarter. Company insiders own 0.32% of the company’s stock.
Shares of Adobe stock opened at $267.69 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Adobe has a 52-week low of $204.95 and a 52-week high of $277.61. The company has a market capitalization of $129.31 billion, a PE ratio of 48.23, a PEG ratio of 2.59 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, March 14th. The software company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.03. Adobe had a net margin of 28.69% and a return on equity of 31.19%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business earned $1.55 earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. As a group, analysts predict that Adobe will post 6.21 EPS for the current year.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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