Adobe Inc. (NASDAQ:ADBE – Get Free Report) CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Adobe Price Performance
Shares of ADBE opened at $522.30 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $231.59 billion, a price-to-earnings ratio of 46.93, a P/E/G ratio of 3.03 and a beta of 1.29. The business’s 50-day moving average is $549.18 and its 200-day moving average is $518.73. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.
Adobe (NASDAQ:ADBE – Get Free Report) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 EPS. Equities research analysts expect that Adobe Inc. will post 14.69 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on ADBE
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ADBE. Steph & Co. grew its stake in shares of Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after buying an additional 30 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Adobe by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after purchasing an additional 398 shares during the last quarter. Choreo LLC raised its holdings in shares of Adobe by 4.7% during the 1st quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Adobe by 14.7% in the 4th quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Adobe by 23.3% in the second quarter. Quest Partners LLC now owns 588 shares of the software company’s stock worth $327,000 after purchasing an additional 111 shares in the last quarter. Hedge funds and other 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.
Featured Articles
- Five stocks we like better than Adobe
- Which Wall Street Analysts are the Most Accurate?
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
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.