Adobe (NASDAQ:ADBE) Lowered to Buy Rating by StockNews.com

Adobe (NASDAQ:ADBE - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Tuesday.

A number of other research analysts also recently issued reports on ADBE. BNP Paribas upgraded 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. Royal Bank of Canada restated an "outperform" rating and set a $590.00 target price on shares of Adobe in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and decreased their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Finally, Mizuho dropped their price objective on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $570.88.

Adobe Stock Up 1.2 %

Adobe stock traded up $5.21 during mid-day trading on Tuesday, hitting $451.24. The company had a trading volume of 2,404,505 shares, compared to its average volume of 3,415,368. The stock has a market cap of $196.42 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.15 and a beta of 1.37. 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 has a 1 year low of $403.75 and a 1 year high of $587.75. The business has a fifty day moving average of $439.61 and a 200 day moving average of $488.77.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly 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 net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the business earned $3.52 EPS. Adobe's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Adobe will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Adobe

A number of hedge funds have recently made changes to their positions in ADBE. State Street Corp grew its position in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company's stock valued at $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC lifted its stake in shares of Adobe by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. FMR LLC grew its holdings in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the period. Norges Bank purchased a new position in Adobe in the fourth quarter valued at approximately $2,553,035,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Adobe by 12.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,341,695 shares of the software company's stock valued at $2,375,345,000 after buying an additional 600,146 shares in the last quarter. Institutional investors and hedge funds 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.