Adobe Inc (NASDAQ:ADBE) CFO Sells $1,739,760.00 in Stock

Adobe Inc (NASDAQ:ADBE) CFO John Francis Murphy sold 4,000 shares of Adobe stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $434.94, for a total transaction of $1,739,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NASDAQ:ADBE opened at $438.88 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.38. Adobe Inc has a fifty-two week low of $255.13 and a fifty-two week high of $470.61. The stock has a market cap of $210.52 billion, a PE ratio of 57.90, a price-to-earnings-growth ratio of 3.36 and a beta of 0.93. The firm’s fifty day simple moving average is $433.53 and its 200-day simple moving average is $370.09.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, June 11th. The software company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.12. Adobe had a net margin of 30.72% and a return on equity of 35.53%. The business had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company posted $1.83 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts anticipate that Adobe Inc will post 8.05 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Spotlight Asset Group Inc. boosted its position in shares of Adobe by 3.3% in the 2nd quarter. Spotlight Asset Group Inc. now owns 715 shares of the software company’s stock worth $311,000 after buying an additional 23 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Adobe by 1.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,466 shares of the software company’s stock worth $638,000 after buying an additional 27 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Adobe by 2.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 1,131 shares of the software company’s stock worth $360,000 after buying an additional 29 shares in the last quarter. PFG Advisors boosted its position in shares of Adobe by 0.8% in the 2nd quarter. PFG Advisors now owns 3,814 shares of the software company’s stock worth $1,778,000 after buying an additional 30 shares in the last quarter. Finally, Savior LLC boosted its position in shares of Adobe by 13.0% in the 2nd quarter. Savior LLC now owns 260 shares of the software company’s stock worth $113,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 84.20% of the company’s stock.

A number of brokerages recently issued reports on ADBE. Credit Suisse Group lifted their price target on shares of Adobe from $415.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, June 12th. Wells Fargo & Co reissued a “hold” rating and set a $375.00 price objective (up previously from $290.00) on shares of Adobe in a report on Friday, June 12th. Oppenheimer raised their price objective on shares of Adobe from $410.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. DZ Bank cut shares of Adobe from a “buy” rating to a “hold” rating and set a $370.00 price objective on the stock. in a report on Thursday, May 14th. Finally, Morgan Stanley raised their price objective on shares of Adobe from $375.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $407.43.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Insider Buying and Selling by Quarter for Adobe (NASDAQ:ADBE)

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