Adobe (NASDAQ:ADBE) Trading Down 0.9% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE)’s share price fell 0.9% during trading on Thursday . The stock traded as low as $481.36 and last traded at $482.08. 297,274 shares traded hands during trading, a decline of 91% from the average session volume of 3,165,089 shares. The stock had previously closed at $486.68.

Wall Street Analyst Weigh In

ADBE has been the topic of several analyst reports. Sanford C. Bernstein lowered their target price on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Bank of America reissued a “buy” rating and issued a $640.00 price target on shares of Adobe in a report on Friday, September 13th. Stifel Nicolaus upped their price objective on Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler Companies restated an “overweight” rating and set a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Finally, Citigroup increased their price target on shares of Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Trading Down 1.7 %

The business has a 50 day simple moving average of $525.27 and a 200-day simple moving average of $515.81. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $212.09 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.12. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share. On average, equities analysts predict that Adobe Inc. will post 14.8 earnings per share for the current year.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,511 shares of company stock valued at $17,408,530. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. Swedbank AB acquired a new position in shares of Adobe in the 1st quarter valued at approximately $621,179,000. Longview Partners Guernsey LTD bought a new position in Adobe during the 2nd quarter valued at $663,745,000. Price T Rowe Associates Inc. MD grew its holdings in Adobe by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after acquiring an additional 1,146,718 shares in the last quarter. Finally, BlueSpruce Investments LP increased its position in shares of Adobe by 81.1% in the 1st quarter. BlueSpruce Investments LP now owns 1,285,596 shares of the software company’s stock worth $648,712,000 after purchasing an additional 575,675 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

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.