Adobe (NASDAQ:ADBE) Trading Up 0.9% – What’s Next?

Adobe Inc. (NASDAQ:ADBE) traded up 0.9% during mid-day trading on Wednesday . The stock traded as high as $490.33 and last traded at $489.96. 629,128 shares were traded during trading, a decline of 80% from the average session volume of 3,168,749 shares. The stock had previously closed at $485.39.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADBE shares. Morgan Stanley reissued an “overweight” rating and issued a $660.00 target price on shares of Adobe in a report on Friday, September 13th. Bank of America reiterated a “buy” rating and set a $640.00 price objective on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada reissued an “outperform” rating and set a $610.00 price objective on shares of Adobe in a research note on Tuesday, October 15th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of Adobe in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $606.40.

Adobe Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $216.73 billion, a P/E ratio of 44.02, a P/E/G ratio of 2.55 and a beta of 1.29. The firm has a 50 day simple moving average of $526.85 and a 200 day simple moving average of $516.01.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $3.26 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that Adobe Inc. will post 14.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,511 shares of company stock worth $17,408,530 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

A number of institutional investors and hedge funds have recently bought and sold shares of ADBE. Piscataqua Savings Bank grew its position in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Tradewinds Capital Management LLC raised its holdings in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Adobe during the 2nd quarter worth approximately $33,000. Finally, Lynx Investment Advisory acquired a new position in shares of Adobe during the second quarter worth about $39,000. 81.79% of the stock is owned by institutional investors.

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.