Insider Selling: Adobe Inc. (NASDAQ:ADBE) CAO Sells $327,839.72 in Stock

Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Adobe Trading Up 1.0 %

Shares of ADBE opened at $482.80 on Friday. The firm has a market cap of $212.53 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. Adobe Inc. has a fifty-two week low of $433.97 and a fifty-two week 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. The business has a 50-day moving average of $522.17 and a 200 day moving average of $515.91.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.26 earnings per share. As a group, research analysts forecast that Adobe Inc. will post 14.82 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of analyst reports. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Oppenheimer restated an “outperform” rating and issued a $625.00 target price on shares of Adobe in a report on Friday, September 13th. Sanford C. Bernstein decreased their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus upped their target price on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $606.40.

Institutional Investors Weigh In On Adobe

Several institutional investors have recently made changes to their positions in ADBE. Troy Asset Management Ltd raised its stake in shares of Adobe by 7.0% during the 3rd quarter. Troy Asset Management Ltd now owns 54,045 shares of the software company’s stock valued at $27,983,000 after purchasing an additional 3,519 shares during the period. Sustainable Insight Capital Management LLC increased its position in shares of Adobe by 102.8% during the third quarter. Sustainable Insight Capital Management LLC now owns 789 shares of the software company’s stock valued at $409,000 after buying an additional 400 shares during the period. RKL Wealth Management LLC lifted its holdings in shares of Adobe by 31.5% in the third quarter. RKL Wealth Management LLC now owns 651 shares of the software company’s stock worth $337,000 after buying an additional 156 shares in the last quarter. Atria Investments Inc boosted its position in shares of Adobe by 6.0% in the third quarter. Atria Investments Inc now owns 49,653 shares of the software company’s stock valued at $25,709,000 after acquiring an additional 2,791 shares during the period. Finally, Essex Savings Bank grew its stake in Adobe by 1.2% during the third quarter. Essex Savings Bank now owns 3,921 shares of the software company’s stock valued at $2,030,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

About Adobe

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.