UBS Group Lowers Adobe (NASDAQ:ADBE) Price Target to $475.00

Adobe (NASDAQ:ADBE) had its price objective trimmed by UBS Group from $525.00 to $475.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

Several other research firms also recently weighed in on ADBE. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Morgan Stanley reissued an “overweight” rating and set a $660.00 price target on shares of Adobe in a research note on Friday, September 13th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $582.96.

Adobe Stock Performance

Adobe stock opened at $430.57 on Friday. The stock has a market cap of $189.54 billion, a PE ratio of 34.72, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe has a 12-month low of $425.32 and a 12-month high of $638.25. The business’s 50-day moving average price is $490.31 and its two-hundred day moving average price is $520.78.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the company earned $3.52 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that Adobe will post 16.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Commonwealth Financial Services LLC increased its position in shares of Adobe by 3.7% during 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 in the last quarter. Onyx Bridge Wealth Group LLC raised its stake in shares of Adobe by 4.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. lifted its holdings in shares of Adobe by 0.5% in 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 in the last quarter. 1ST Source Bank boosted its position in shares of Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. Finally, Blue Barn Wealth LLC grew its holdings in Adobe by 0.6% during the second quarter. Blue Barn Wealth LLC now owns 3,799 shares of the software company’s stock worth $2,110,000 after buying an additional 21 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

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.