Insider Selling: Adobe Inc. (NASDAQ:ADBE) EVP Sells 3,819 Shares of Stock

Adobe Inc. (NASDAQ:ADBE) EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Scott Belsky also recently made the following trade(s):

• On Friday, January 24th, Scott Belsky sold 922 shares of Adobe stock. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16.

Adobe Stock Up 1.0 %

ADBE opened at $446.00 on Friday. The stock has a market capitalization of $194.14 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.12 and a beta of 1.31. The firm has a 50 day moving average price of $464.63 and a 200-day moving average price of $505.15. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.52 EPS. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Onyx Bridge Wealth Group LLC increased its position in shares of Adobe by 4.0% during the 3rd 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 during the last quarter. Connable Office Inc. grew its position in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after buying an additional 20 shares during the period. 1ST Source Bank increased its holdings in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. Next Capital Management LLC raised its position in Adobe by 3.2% in the second quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock worth $377,000 after acquiring an additional 21 shares during the period. Finally, James J. Burns & Company LLC boosted its stake in shares of Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADBE. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Wells Fargo & Company lowered their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. UBS Group reduced their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Piper Sandler lowered their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

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.