Adobe Inc. (NASDAQ:ADBE – Get Free Report) EVP Scott Belsky sold 1,530 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Scott Belsky also recently made the following trade(s):
- On Thursday, July 25th, Scott Belsky sold 481 shares of Adobe stock. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00.
Adobe Stock Down 1.1 %
Shares of ADBE stock traded down $5.71 during mid-day trading on Thursday, reaching $496.83. 2,768,123 shares of the company’s stock traded hands, compared to its average volume of 3,222,822. The company’s 50-day moving average price is $536.95 and its 200-day moving average price is $515.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a market cap of $220.29 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.55 and a beta of 1.29. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Adobe in a research note on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Finally, Piper Sandler restated an “overweight” rating and set a $635.00 price target on shares of Adobe in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $606.40.
Read Our Latest Stock Analysis on ADBE
Institutional Investors Weigh In On Adobe
A number of large investors have recently made changes to their positions in ADBE. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Tradewinds Capital Management LLC grew its stake in shares of Adobe by 266.7% during the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after purchasing an additional 45 shares during the period. Summit Securities Group LLC bought a new stake in shares of Adobe during the 2nd quarter valued at about $33,000. Finally, Steph & Co. grew its stake in shares of Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares during the period. 81.79% of the stock is currently owned by institutional investors.
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.
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