Analysts Set Adobe Inc. (NASDAQ:ADBE) PT at $575.85

Adobe Inc. (NASDAQ:ADBE) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $575.85.

A number of analysts recently issued reports on ADBE shares. Jefferies Financial Group lowered their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. UBS Group lowered their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Mizuho lowered their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was 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 $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock valued at $893,665 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the period. Public Sector Pension Investment Board grew its position in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares during the period. GAMMA Investing LLC grew its position in Adobe by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after purchasing an additional 1,412 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Adobe by 201.0% during 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. Finally, Morse Asset Management Inc grew its position in shares of Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after acquiring an additional 2,113 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Up 0.6 %

ADBE opened at $408.50 on Thursday. The stock has a market cap of $179.82 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The stock’s 50 day moving average price is $482.55 and its 200-day moving average price is $516.02. Adobe has a one year low of $403.75 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

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

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.