Adobe (NASDAQ:ADBE) Trading Down 0.4% Following Insider Selling

Adobe Inc. (NASDAQ:ADBEGet Free Report)’s stock price fell 0.4% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $438.83 and last traded at $441.10. 884,192 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,883,162 shares. The stock had previously closed at $442.84.

Specifically, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’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 sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Check Out Our Latest Research Report on ADBE

Adobe Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50-day moving average price is $465.79 and its two-hundred day moving average price is $505.60. The company has a market capitalization of $192.26 billion, a P/E ratio of 35.62, a PEG ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings results 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. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.52 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Adobe

Several large investors have recently made changes to their positions in the stock. Onyx Bridge Wealth Group LLC increased its holdings in Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares in the last quarter. Connable Office Inc. grew its holdings in shares of Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares in the last quarter. 1ST Source Bank grew its holdings in shares of Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares in the last quarter. James J. Burns & Company LLC raised its position in Adobe by 5.6% in the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after buying an additional 22 shares during the last quarter. Finally, Holistic Financial Partners lifted its stake in Adobe by 6.0% in the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after acquiring an additional 22 shares in the last quarter. 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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