Adobe Inc. (NASDAQ:ADBE – Get Free Report) CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at approximately $1,501,989. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Adobe Stock Performance
ADBE traded up $10.29 during midday trading on Friday, hitting $542.44. 2,089,566 shares of the company traded hands, compared to its average volume of 3,431,273. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $240.52 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 2.77 and a beta of 1.30. The company’s 50-day moving average is $515.72 and its 200 day moving average is $531.03. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.
Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.39 by $0.09. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. On average, research analysts expect that Adobe Inc. will post 14.69 EPS for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on Adobe
Hedge Funds Weigh In On Adobe
Several institutional investors have recently made changes to their positions in ADBE. Tradewinds Capital Management LLC lifted its stake in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC purchased a new stake in Adobe in the 2nd quarter worth approximately $33,000. Wetzel Investment Advisors Inc. purchased a new stake in Adobe in the 4th quarter worth approximately $35,000. Finally, Steph & Co. increased its holdings in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after acquiring an additional 30 shares in 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.
See Also
- Five stocks we like better than Adobe
- How to Calculate Stock Profit
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- What Is WallStreetBets and What Stocks Are They Targeting?
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- Financial Services Stocks Investing
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.