Adobe (NASDAQ:ADBE) Stock Price Down 2.8% - Time to Sell?

Adobe Inc. (NASDAQ:ADBE - Get Free Report) shares were down 2.8% on Friday . The company traded as low as $407.44 and last traded at $407.71. Approximately 1,796,248 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 3,561,906 shares. The stock had previously closed at $419.58.

Wall Street Analyst Weigh In

A number of research firms have commented on ADBE. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research report on Wednesday. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a report on Thursday, December 12th. Bank of America reduced their price target on shares of Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $575.85.

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Adobe Price Performance

The stock has a market cap of $178.69 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company's fifty day moving average is $484.01 and its 200 day moving average is $517.15.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (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 45.22%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 earnings per share. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company's stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Adobe

A number of hedge funds have recently made changes to their positions in ADBE. HBW Advisory Services LLC increased its position in shares of Adobe by 3.3% in the 4th quarter. HBW Advisory Services LLC now owns 920 shares of the software company's stock worth $409,000 after purchasing an additional 29 shares during the last quarter. Jacobs & Co. CA increased its holdings in Adobe by 2.7% in the fourth quarter. Jacobs & Co. CA now owns 37,090 shares of the software company's stock valued at $16,493,000 after buying an additional 973 shares during the last quarter. Sage Capital Advisors llc raised its stake in Adobe by 1.0% during the fourth quarter. Sage Capital Advisors llc now owns 5,865 shares of the software company's stock valued at $2,608,000 after buying an additional 57 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Adobe by 3.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,835 shares of the software company's stock worth $2,595,000 after buying an additional 173 shares during the last quarter. Finally, CCM Investment Advisers LLC lifted its holdings in Adobe by 8.4% during the 4th quarter. CCM Investment Advisers LLC now owns 30,405 shares of the software company's stock worth $13,521,000 after buying an additional 2,359 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

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.