Adobe Inc. (NASDAQ:ADBE) Given Average Recommendation of “Moderate Buy” by Analysts

Adobe Inc. (NASDAQ:ADBE) has earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $606.40.

Several research firms have recently weighed in on ADBE. Sanford C. Bernstein lowered their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Citigroup boosted their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Oppenheimer reiterated an “outperform” rating and issued a $625.00 price objective on shares of Adobe in a research note on Friday, September 13th. Finally, UBS Group cut their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 23.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,187 shares of company stock valued at $17,736,369 in the last 90 days. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Adobe by 28.0% in the 3rd 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 last quarter. Hemenway Trust Co LLC lifted its stake in shares of Adobe by 53.1% in the 3rd quarter. Hemenway Trust Co LLC now owns 10,202 shares of the software company’s stock valued at $5,282,000 after purchasing an additional 3,539 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of Adobe by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 149,968 shares of the software company’s stock worth $77,650,000 after purchasing an additional 1,464 shares during the period. Anchor Investment Management LLC increased its position in shares of Adobe by 9.8% during the 2nd quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock valued at $8,892,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Fairscale Capital LLC bought a new position in shares of Adobe during the 2nd quarter valued at approximately $1,318,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.5 %

Shares of NASDAQ:ADBE opened at $512.15 on Wednesday. Adobe has a 1 year low of $433.97 and a 1 year high of $638.25. The stock’s fifty day moving average price is $503.13 and its 200-day moving average price is $519.25. The company has a market cap of $225.45 billion, a P/E ratio of 43.26, a PEG ratio of 2.60 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.26 EPS. Sell-side analysts expect that Adobe will post 14.82 earnings per share for the current year.

About Adobe

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.