Adobe (NASDAQ:ADBE) Shares Down 0.1% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE)’s stock price traded down 0.1% during trading on Monday . The stock traded as low as $445.57 and last traded at $446.50. 668,188 shares traded hands during trading, a decline of 80% from the average session volume of 3,295,526 shares. The stock had previously closed at $447.17.

Analyst Ratings Changes

Several research analysts have weighed in on ADBE shares. Citigroup lowered their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Bank of America reduced their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, UBS Group dropped their price objective on Adobe from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $584.88.

Adobe Stock Up 0.3 %

The stock’s 50-day moving average price is $498.02 and its 200-day moving average price is $523.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $197.18 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.51 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,293 shares of company stock valued at $1,679,809 over the last 90 days. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Adobe during the third quarter worth approximately $26,000. Piscataqua Savings Bank raised its holdings in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe in the third quarter valued at $30,000. True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc bought a new stake in shares of Adobe during the third quarter worth about $36,000. Institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

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.