Adobe (NASDAQ:ADBE) Shares Up 0.4% - Still a Buy?

Adobe Inc. (NASDAQ:ADBE - Get Free Report) shares traded up 0.4% on Thursday . The company traded as high as $450.70 and last traded at $449.92. 585,328 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,290,908 shares. The stock had previously closed at $447.94.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ADBE shares. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. DA Davidson decreased their price objective on Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Jefferies Financial Group reduced their price objective on shares of Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Finally, Royal Bank of Canada dropped their price objective on Adobe from $610.00 to $590.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $584.88.

Adobe Trading Up 0.5 %

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 stock's 50 day moving average is $496.92 and its two-hundred day moving average is $522.92. The company has a market capitalization of $198.16 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29.

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, beating analysts' consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for 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 45.22%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 481 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm's 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 directly owns 32,929 shares of the company's stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock valued at $1,679,809 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adobe

Hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board grew its position in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock worth $10,005,000 after purchasing an additional 2,100 shares during the period. GAMMA Investing LLC increased its holdings in shares of Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company's stock valued at $3,344,000 after purchasing an additional 1,412 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock worth $60,779,000 after acquiring an additional 78,384 shares in the last quarter. Morse Asset Management Inc boosted its position in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock worth $4,411,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in Adobe by 13.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 78,682 shares of the software company's stock valued at $40,740,000 after acquiring an additional 9,519 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

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.