Adobe (NASDAQ:ADBE) Trading 1% Higher – Should You Buy?

Shares of Adobe Inc. (NASDAQ:ADBE) rose 1% on Monday . The company traded as high as $436.41 and last traded at $434.78. Approximately 954,845 shares changed hands during trading, a decline of 68% from the average daily volume of 2,961,918 shares. The stock had previously closed at $430.57.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Oppenheimer dropped their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Morgan Stanley reiterated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, Citigroup cut their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus price target of $582.96.

Adobe Stock Down 0.6 %

The business has a 50-day moving average price of $490.31 and a 200-day moving average price of $520.78. 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 cap of $188.42 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.52 EPS. As a group, analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,293 shares of company stock worth $1,679,809. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter worth about $26,000. Piscataqua Savings Bank increased its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC increased its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Adobe during the 3rd quarter worth about $36,000. 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.