Adobe Inc. (NASDAQ:ADBE) Short Interest Down 11.6% in January

Adobe Inc. (NASDAQ:ADBE) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 7,710,000 shares, a decline of 11.6% from the January 15th total of 8,720,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is presently 2.0 days.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADBE shares. Deutsche Bank Aktiengesellschaft restated 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. Barclays reduced their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insider Transactions at Adobe

In other news, Director David A. Ricks acquired 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 4.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after acquiring an additional 20 shares during the last quarter. Connable Office Inc. grew its stake in shares of Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after acquiring an additional 20 shares during the last quarter. 1ST Source Bank grew its stake in shares of 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 acquiring an additional 20 shares during the last quarter. James J. Burns & Company LLC grew its stake in shares of Adobe by 5.6% in the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after acquiring an additional 22 shares during the last quarter. Finally, Holistic Financial Partners grew its stake in shares of Adobe by 6.0% in the third quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after acquiring an additional 22 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 0.2 %

Shares of ADBE opened at $460.16 on Monday. The firm has a market cap of $200.31 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.11 and a beta of 1.31. The stock has a 50 day simple moving average of $446.56 and a two-hundred day simple moving average of $496.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe has a 1 year low of $403.75 and a 1 year high of $607.32.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the company posted $3.52 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Adobe will post 16.65 earnings per share for the current fiscal year.

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.