Adobe (NASDAQ:ADBE) Stock Price Down 0.4% on Insider Selling

Adobe Inc. (NASDAQ:ADBE)’s stock price traded down 0.4% on Wednesday after an insider sold shares in the company. The company traded as low as $438.83 and last traded at $441.10. 884,192 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 3,883,162 shares. The stock had previously closed at $442.84.

Specifically, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Piper Sandler reduced their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Royal Bank of Canada dropped their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, UBS Group dropped their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Stock Down 0.3 %

The stock’s 50 day moving average is $465.79 and its 200 day moving average is $505.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $192.10 billion, a PE ratio of 35.57, a PEG ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the company earned $3.52 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arlington Partners LLC increased its holdings in shares of Adobe by 5.2% in the fourth quarter. Arlington Partners LLC now owns 7,942 shares of the software company’s stock worth $3,532,000 after purchasing an additional 391 shares during the period. Bristlecone Advisors LLC increased its stake in Adobe by 9.8% in the 4th quarter. Bristlecone Advisors LLC now owns 10,341 shares of the software company’s stock worth $4,598,000 after acquiring an additional 919 shares during the last quarter. Silicon Valley Capital Partners raised its holdings in shares of Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after acquiring an additional 236 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Adobe during the 4th quarter valued at about $113,000. Finally, Savant Capital LLC grew its holdings in shares of Adobe by 91.2% during the fourth quarter. Savant Capital LLC now owns 15,294 shares of the software company’s stock worth $6,801,000 after purchasing an additional 7,293 shares in the last quarter. 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.