Adobe (NASDAQ:ADBE) Trading Down 0.2% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE) was down 0.2% on Tuesday . The company traded as low as $405.07 and last traded at $407.61. Approximately 900,193 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,831,931 shares. The stock had previously closed at $408.50.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Bank of America decreased their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Stock Down 0.4 %

The stock’s 50-day simple moving average is $482.55 and its 200 day simple moving average is $516.02. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $179.17 billion, a P/E ratio of 32.82, a PEG ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.52 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’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 value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,763 shares of company stock worth $893,665. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Commonwealth Financial Services LLC lifted its holdings in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after purchasing an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its holdings in shares of Adobe by 4.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after purchasing an additional 20 shares in the last quarter. Connable Office Inc. lifted its holdings in shares of Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares in the last quarter. 1ST Source Bank lifted its holdings in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares in the last quarter. Finally, Sfmg LLC lifted its holdings in shares of Adobe by 3.1% in the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after purchasing an additional 21 shares in the last quarter. Institutional investors 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.