Insider Selling: Adobe Inc (NASDAQ:ADBE) Director Sells 1,600 Shares of Stock
Adobe Inc (NASDAQ:ADBE) Director John E. Warnock sold 1,600 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $345.38, for a total value of $552,608.00. Following the sale, the director now directly owns 16,088 shares of the company’s stock, valued at $5,556,473.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of ADBE stock opened at $342.94 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 0.09. Adobe Inc has a 52 week low of $237.26 and a 52 week high of $347.27. The stock has a market capitalization of $166.83 billion, a PE ratio of 52.28, a P/E/G ratio of 2.65 and a beta of 1.11. The firm has a 50 day moving average of $323.24 and a two-hundred day moving average of $296.87.
Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.03. Adobe had a net margin of 26.42% and a return on equity of 31.47%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the company posted $1.83 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. Analysts expect that Adobe Inc will post 8.02 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of ADBE. Keudell Morrison Wealth Management lifted its position in shares of Adobe by 328.1% during the 2nd quarter. Keudell Morrison Wealth Management now owns 12,240 shares of the software company’s stock worth $3,607,000 after purchasing an additional 9,381 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Adobe by 4.6% during the 2nd quarter. Pictet Asset Management Ltd. now owns 255,487 shares of the software company’s stock worth $75,279,000 after purchasing an additional 11,230 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Adobe during the 2nd quarter worth $247,000. Lido Advisors LLC lifted its position in shares of Adobe by 14.9% during the 2nd quarter. Lido Advisors LLC now owns 2,411 shares of the software company’s stock worth $710,000 after purchasing an additional 313 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Adobe by 1.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 8,858 shares of the software company’s stock worth $2,610,000 after purchasing an additional 145 shares during the last quarter. 84.84% of the stock is owned by institutional investors.
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.
Further Reading: How to build a Fibonacci channel
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.