Scott Belsky Sells 3,819 Shares of Adobe Inc. (NASDAQ:ADBE) Stock

Adobe Inc. (NASDAQ:ADBE) EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Scott Belsky also recently made the following trade(s):

• On Friday, January 24th, Scott Belsky sold 922 shares of Adobe stock. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $441.68 on Thursday. The firm has a market capitalization of $192.26 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $465.79 and its 200-day simple moving average is $505.60. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the company earned $3.52 earnings per share. Adobe’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADBE. UBS Group reduced their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Jefferies Financial Group reduced their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Finally, Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $573.00.

Institutional Trading of Adobe

Institutional investors and hedge funds have recently modified their holdings of the business. Hudock Inc. raised its position in shares of Adobe by 75.5% during the 4th quarter. Hudock Inc. now owns 1,146 shares of the software company’s stock worth $510,000 after purchasing an additional 493 shares during the last quarter. Sawgrass Asset Management LLC raised its holdings in shares of Adobe by 0.3% in the fourth quarter. Sawgrass Asset Management LLC now owns 29,811 shares of the software company’s stock worth $13,256,000 after acquiring an additional 90 shares during the last quarter. Stanley Laman Group Ltd. raised its holdings in shares of Adobe by 87.2% in the fourth quarter. Stanley Laman Group Ltd. now owns 777 shares of the software company’s stock worth $346,000 after acquiring an additional 362 shares during the last quarter. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of Adobe in the fourth quarter valued at $821,000. Finally, Fiera Capital Corp increased its position in Adobe by 1.3% during the 4th quarter. Fiera Capital Corp now owns 411,054 shares of the software company’s stock worth $182,787,000 after purchasing an additional 5,278 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.