Adobe (NASDAQ:ADBE) Trading Down 0.4% on Insider Selling

Shares of Adobe Inc. (NASDAQ:ADBE) traded down 0.4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $515.57 and last traded at $515.85. 773,271 shares were traded during trading, a decline of 76% from the average session volume of 3,234,483 shares. The stock had previously closed at $517.90.

Specifically, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. The sale was disclosed in a filing with the SEC, which is available through this link.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price objective on shares of Adobe in a report on Friday, September 13th. Barclays upped their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Bank of America reissued a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Melius Research restated a “hold” rating and set a $510.00 target price on shares of Adobe in a research report on Monday, June 10th. Finally, UBS Group dropped their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Stock Up 0.0 %

The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market cap of $228.56 billion, a P/E ratio of 46.31, a P/E/G ratio of 2.72 and a beta of 1.29. The company’s 50 day moving average price is $545.13 and its two-hundred day moving average price is $517.65.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the previous year, the company posted $3.26 EPS. Adobe’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Adobe Inc. will post 14.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Tradewinds Capital Management LLC lifted its stake in shares of Adobe by 266.7% during 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 last quarter. Salomon & Ludwin LLC lifted its position in shares of Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe in the 2nd quarter valued at about $33,000. Lynx Investment Advisory purchased a new position in shares of Adobe in the 2nd quarter worth approximately $39,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Adobe during the 2nd quarter worth approximately $39,000. 81.79% of the stock is currently owned by institutional investors.

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.