Adobe Inc. (NASDAQ:ADBE - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $367.77 and last traded at $368.56, with a volume of 1578681 shares changing hands. The stock had previously closed at $385.78.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on ADBE shares. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Stifel Nicolaus cut their target price on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Finally, Evercore ISI lowered their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $531.54.
Get Our Latest Analysis on ADBE
Adobe Trading Down 5.0 %
The company has a 50 day moving average price of $425.66 and a two-hundred day moving average price of $463.96. The firm has a market capitalization of $148.77 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business earned $4.48 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
Insider Transactions at Adobe
In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm'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 transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $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. Insiders have sold 5,075 shares of company stock valued at $2,191,826 over the last ninety days. Insiders own 0.16% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of ADBE. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after acquiring an additional 11,522 shares during the period. SWAN Capital LLC acquired a new stake in Adobe during the fourth quarter worth $28,000. Finally, Copia Wealth Management purchased a new stake in Adobe in the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 81.79% of the company's stock.
Adobe Company Profile
(
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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