Adobe Inc. (NASDAQ:ADBE – Get Free Report) 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 – Get Free Report) 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
Get Our Latest Stock Report on ADBE
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.
See Also
- Five stocks we like better than Adobe
- How to Calculate Options Profits
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- Investing in the High PE Growth Stocks
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- What is a Bond Market Holiday? How to Invest and Trade
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
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.