Adobe (NASDAQ:ADBE) Stock Price Down 0.1% – What’s Next?

Adobe Inc. (NASDAQ:ADBE) traded down 0.1% on Monday . The stock traded as low as $445.57 and last traded at $446.50. 668,188 shares were traded during trading, a decline of 80% from the average session volume of 3,295,526 shares. The stock had previously closed at $447.17.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADBE. Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $660.00 target price on shares of Adobe in a research report on Friday, September 13th. Royal Bank of Canada cut their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. DA Davidson decreased their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Bank of America cut their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.88.

Adobe Trading Up 0.3 %

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 has a market cap of $197.18 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 2.51 and a beta of 1.29. The company’s 50-day moving average is $498.02 and its 200-day moving average is $523.44.

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

Insider Activity

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The shares were 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 in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the transaction, the executive vice president now directly owns 18,831 shares of the company’s stock, valued at $9,675,744.42. This trade represents a 7.51 % 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 in the last 90 days. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adobe

Institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board lifted its stake 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 valued at $10,005,000 after buying an additional 2,100 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Adobe by 201.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares during the period. Morse Asset Management Inc increased its holdings in Adobe by 33.0% during the 3rd 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 in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Adobe by 13.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 78,682 shares of the software company’s stock valued at $40,740,000 after purchasing an additional 9,519 shares during the period. Institutional investors own 81.79% of the company’s stock.

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.