Adobe Inc. (NASDAQ:ADBE - Get Free Report) CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Adobe Stock Performance
Shares of ADBE stock traded up $9.17 during trading hours on Tuesday, hitting $403.64. 3,644,338 shares of the company were exchanged, compared to its average volume of 3,193,294. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $433.88 and a 200 day simple moving average of $473.88. The stock has a market capitalization of $175.75 billion, a price-to-earnings ratio of 32.55, a P/E/G ratio of 2.15 and a beta of 1.37.
Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ADBE has been the subject of a number of research analyst reports. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Wells Fargo & Company decreased their price objective on Adobe from $640.00 to $600.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Stifel Nicolaus cut their target price on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $538.80.
View Our Latest Analysis on ADBE
Institutional Investors Weigh In On Adobe
Hedge funds and other institutional investors have recently bought and sold shares of the business. 1ST Source Bank lifted its stake in Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock worth $1,496,000 after purchasing an additional 20 shares during the last quarter. Sepio Capital LP raised its holdings in shares of Adobe by 2.3% in the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after buying an additional 22 shares during the period. Cadence Bank lifted its stake in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC lifted its stake in shares of Adobe by 1.5% during the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after acquiring an additional 22 shares during the last quarter. Finally, RB Capital Management LLC boosted its holdings in Adobe by 0.4% during the 4th quarter. RB Capital Management LLC now owns 4,944 shares of the software company's stock valued at $2,198,000 after acquiring an additional 22 shares during the period. Institutional investors own 81.79% of the company's stock.
About Adobe
(
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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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