Adobe Inc. (NASDAQ:ADBE - Get Free Report) Director David A. Ricks acquired 2,250 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company's stock, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Adobe Stock Up 1.0 %
Shares of NASDAQ ADBE traded up $4.32 during midday trading on Thursday, reaching $446.00. 3,284,014 shares of the company's stock were exchanged, compared to its average volume of 3,966,982. The stock has a market capitalization of $194.14 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. 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 business's fifty day moving average price is $464.63 and its two-hundred day moving average price is $505.15.
Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.52 earnings per share. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and dropped their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued 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 currently has an average rating of "Moderate Buy" and an average target price of $573.00.
Read Our Latest Research Report on ADBE
Institutional Investors Weigh In On Adobe
A number of institutional investors have recently modified their holdings of the stock. Opes Wealth Management LLC increased its holdings in Adobe by 17.1% in the fourth quarter. Opes Wealth Management LLC now owns 1,253 shares of the software company's stock valued at $557,000 after buying an additional 183 shares during the last quarter. Copperleaf Capital LLC increased its holdings in shares of Adobe by 49.9% in the 4th quarter. Copperleaf Capital LLC now owns 2,173 shares of the software company's stock valued at $966,000 after acquiring an additional 723 shares during the last quarter. WD Rutherford LLC raised its position in shares of Adobe by 6.1% during the 4th quarter. WD Rutherford LLC now owns 8,317 shares of the software company's stock valued at $3,698,000 after acquiring an additional 478 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Adobe by 3.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 6,736 shares of the software company's stock worth $2,995,000 after purchasing an additional 208 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Adobe during the fourth quarter valued at $24,927,000. Institutional investors and hedge funds own 81.79% of the company's stock.
About Adobe
(
Get Free Report)
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.
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