Adobe (NASDAQ:ADBE) Earns “Hold” Rating from Deutsche Bank Aktiengesellschaft

Adobe (NASDAQ:ADBE)‘s stock had its “hold” rating restated by investment analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $475.00 target price on the software company’s stock, down from their prior target price of $600.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 13.21% from the company’s previous close.

ADBE has been the topic of several other reports. Royal Bank of Canada reduced their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler dropped their target price on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Price Performance

NASDAQ:ADBE opened at $419.58 on Wednesday. Adobe has a 52 week low of $415.51 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day simple moving average is $485.54 and its 200 day simple moving average is $517.97. The firm has a market cap of $184.70 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 25.85% and a return on equity of 45.22%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.52 earnings per share. As a group, sell-side analysts predict that Adobe will post 16.73 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of Adobe 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 directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the firm’s 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 directly owns 32,929 shares of the company’s stock, valued at $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 ninety days. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adobe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares during the period. Public Sector Pension Investment Board boosted its holdings in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares in the last quarter. GAMMA Investing LLC grew its stake in Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after acquiring an additional 1,412 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after acquiring an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc raised its position in shares of 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 during the period. 81.79% of the stock is owned by institutional investors.

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.