Adobe (NASDAQ:ADBE) Given New $600.00 Price Target at Deutsche Bank Aktiengesellschaft

Adobe (NASDAQ:ADBE) had its target price decreased by Deutsche Bank Aktiengesellschaft from $650.00 to $600.00 in a research note issued to investors on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the software company’s stock.

A number of other research firms have also commented on ADBE. BMO Capital Markets raised their price objective on shares of Adobe from $580.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Bank of America reaffirmed a “buy” rating and set a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. UBS Group dropped their price objective on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Jefferies Financial Group lowered their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $584.88.

Adobe Stock Performance

ADBE opened at $474.63 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $208.93 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The business has a 50 day moving average price of $506.57 and a two-hundred day moving average price of $523.36. Adobe has a 1-year low of $433.97 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm posted $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Adobe will post 14.82 EPS for the current fiscal year.

Insider Activity at Adobe

In other news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 6.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were 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 23.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,793 shares of company stock worth $18,069,669 over the last three months. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Adobe

Several institutional investors and hedge funds have recently made changes to their positions in ADBE. Onyx Bridge Wealth Group LLC increased its holdings in shares of Adobe by 3.9% during the second quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after buying an additional 19 shares in the last quarter. HTLF Bank lifted its position in Adobe by 3.3% during the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after buying an additional 19 shares in the last quarter. Commonwealth Financial Services LLC raised its stake in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after acquiring an additional 19 shares during the last quarter. Connable Office Inc. grew its stake in shares of Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after purchasing an additional 20 shares during the last quarter. Finally, 1ST Source Bank lifted its holdings in Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds 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.