Adobe Inc. (NASDAQ:ADBE – Get Free Report) EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Scott Belsky also recently made the following trade(s):
- On Thursday, July 25th, Scott Belsky sold 481 shares of Adobe stock. The shares were sold at an average price of $537.00, for a total value of $258,297.00.
Adobe Price Performance
Shares of ADBE opened at $496.83 on Friday. The business has a 50-day simple moving average of $536.28 and a two-hundred day simple moving average of $515.72. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock has a market cap of $220.29 billion, a PE ratio of 44.64, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.
Analysts Set New Price Targets
ADBE has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Piper Sandler Companies reissued an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Citigroup increased their price target on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $606.40.
Check Out Our Latest Report on Adobe
Hedge Funds Weigh In On Adobe
Hedge funds have recently modified their holdings of the business. Piscataqua Savings Bank raised its position in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock worth $28,000 after acquiring an additional 40 shares during the period. Salomon & Ludwin LLC boosted its holdings in Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Adobe during the 2nd quarter valued at approximately $33,000. Finally, Steph & Co. raised its holdings in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds 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.
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