Adobe (NASDAQ:ADBE) Trading 0.4% Higher – What’s Next?

Adobe Inc. (NASDAQ:ADBE) shares rose 0.4% during trading on Monday . The company traded as high as $488.49 and last traded at $485.84. Approximately 456,562 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,177,121 shares. The stock had previously closed at $483.72.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $625.00 target price on shares of Adobe in a research note on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Stifel Nicolaus upped their target price on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Barclays raised their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Price Performance

The business has a fifty day moving average of $526.85 and a 200 day moving average of $516.01. The firm has a market cap of $215.22 billion, a P/E ratio of 43.61, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.26 earnings per share. On average, sell-side analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at $186,569,166. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,511 shares of company stock worth $17,408,530 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

Several hedge funds and other institutional investors have recently made changes to their positions in ADBE. Farmers & Merchants Investments Inc. increased its holdings in Adobe by 69.2% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 621 shares of the software company’s stock worth $313,000 after purchasing an additional 254 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Adobe by 8.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 5,563 shares of the software company’s stock worth $2,807,000 after buying an additional 413 shares during the period. Mainsail Financial Group LLC grew its holdings in Adobe by 2.3% during the 1st quarter. Mainsail Financial Group LLC now owns 2,149 shares of the software company’s stock worth $1,084,000 after acquiring an additional 49 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in Adobe by 7.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 9,457 shares of the software company’s stock valued at $4,772,000 after acquiring an additional 619 shares during the period. 81.79% of the stock is owned by institutional investors.

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.