Adobe Inc. (NASDAQ:ADBE) CAO Sells $52,089.00 in Stock

Adobe Inc. (NASDAQ:ADBE) CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,501,989. The transaction was disclosed in a filing with the SEC, which is available through this link.

Adobe Stock Up 1.9 %

Shares of Adobe stock traded up $10.29 during trading on Friday, reaching $542.44. 2,089,566 shares of the company traded hands, compared to its average volume of 3,431,273. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a 50 day moving average price of $515.72 and a 200-day moving average price of $531.03. The firm has a market capitalization of $240.52 billion, a PE ratio of 48.74, a P/E/G ratio of 2.77 and a beta of 1.30.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company earned $3.04 EPS. Adobe’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADBE. Stifel Nicolaus lowered their price objective on shares of Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, June 7th. StockNews.com cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Mizuho reissued a “buy” rating and set a $640.00 target price (down from $680.00) on shares of Adobe in a report on Friday, June 7th. Evercore ISI reissued an “outperform” rating and set a $650.00 target price on shares of Adobe in a report on Friday, June 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $603.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its holdings in Adobe by 3.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,848 shares of the software company’s stock worth $2,138,000 after buying an additional 146 shares during the last quarter. Hall Capital Management Co. Inc. acquired a new position in Adobe during the second quarter worth $224,000. Harbour Investments Inc. raised its holdings in Adobe by 18.2% during the second quarter. Harbour Investments Inc. now owns 1,155 shares of the software company’s stock worth $642,000 after buying an additional 178 shares during the last quarter. LS Investment Advisors LLC raised its holdings in Adobe by 7.3% during the second quarter. LS Investment Advisors LLC now owns 2,355 shares of the software company’s stock worth $1,308,000 after buying an additional 160 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Adobe by 16.6% in the second quarter. Eagle Bay Advisors LLC now owns 2,021 shares of the software company’s stock valued at $1,123,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

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.