Adobe (NASDAQ:ADBE) Trading Down 0.4% – What’s Next?

Adobe Inc. (NASDAQ:ADBE) shares dropped 0.4% during mid-day trading on Tuesday . The stock traded as low as $442.57 and last traded at $444.93. Approximately 531,747 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,296,960 shares. The stock had previously closed at $446.74.

Analyst Upgrades and Downgrades

Several analysts recently commented on ADBE shares. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group decreased their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $584.88.

Adobe Stock Performance

The firm has a market capitalization of $197.18 billion, a PE ratio of 36.12, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. 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 business’s fifty day simple moving average is $499.22 and its 200-day simple moving average is $523.57.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.52 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the business’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 transaction 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,293 shares of company stock valued at $14,719,309 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Several large investors have recently modified their holdings of the stock. Harbour Investments Inc. grew its stake in shares of Adobe by 18.2% during the second quarter. Harbour Investments Inc. now owns 1,155 shares of the software company’s stock valued at $642,000 after buying an additional 178 shares during the last quarter. Wright Investors Service Inc. lifted its position in shares of Adobe by 1.2% during the second quarter. Wright Investors Service Inc. now owns 9,167 shares of the software company’s stock worth $5,093,000 after purchasing an additional 111 shares during the last quarter. Valley Brook Capital Group Inc. lifted its position in shares of Adobe by 8.0% during the second quarter. Valley Brook Capital Group Inc. now owns 2,215 shares of the software company’s stock worth $1,231,000 after purchasing an additional 165 shares during the last quarter. Strategic Blueprint LLC boosted its stake in shares of Adobe by 28.4% during the second quarter. Strategic Blueprint LLC now owns 2,529 shares of the software company’s stock valued at $1,405,000 after purchasing an additional 559 shares during the period. Finally, 1834 Investment Advisors Co. grew its holdings in shares of Adobe by 18.9% in the second quarter. 1834 Investment Advisors Co. now owns 1,957 shares of the software company’s stock worth $1,087,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

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.