Adobe Inc. (NASDAQ:ADBE - Get Free Report) CAO Mark S. Garfield sold 97 shares of the company's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total transaction of $45,435.77. Following the transaction, the chief accounting officer now owns 4,128 shares of the company's stock, valued at approximately $1,933,596.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Adobe Trading Down 0.8 %
NASDAQ ADBE opened at $473.44 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $212.10 billion, a price-to-earnings ratio of 45.26, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The company's 50-day simple moving average is $516.72 and its two-hundred day simple moving average is $564.69. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25.
Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.38 by $0.10. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 EPS. Equities analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.
Conflict In Israel Sends Gold Soaring ???? Here’s How To Get Your Share
From Colonial Metals | Ad
The latest flare-up between Israel and Palestinian militants has sent gold prices surging.
Why? Because savvy investors know the endgame of the elites at play…
Geopolitical crises breed uncertainty — and gold thrives on uncertainty.
See why the elites are pouring billions into gold.
Adobe declared that its Board of Directors has initiated a share repurchase program on Thursday, March 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. TheStreet lowered shares of Adobe from a "b-" rating to a "c+" rating in a research report on Tuesday, March 19th. UBS Group lowered their price objective on shares of Adobe from $600.00 to $540.00 and set a "neutral" rating for the company in a research report on Friday, March 15th. Evercore ISI reiterated an "outperform" rating and set a $650.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $625.00 and set a "buy" rating for the company in a research report on Friday, March 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $630.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $620.72.
Get Our Latest Stock Report on Adobe
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its position in shares of Adobe by 2.7% in the 3rd quarter. Morgan Stanley now owns 10,371,262 shares of the software company's stock worth $5,288,309,000 after buying an additional 277,484 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Adobe by 10.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,497,332 shares of the software company's stock worth $3,876,309,000 after buying an additional 590,533 shares during the last quarter. Norges Bank purchased a new position in shares of Adobe in the 4th quarter worth approximately $3,277,785,000. Northern Trust Corp grew its position in shares of Adobe by 3.9% in the 3rd quarter. Northern Trust Corp now owns 5,358,515 shares of the software company's stock worth $2,732,307,000 after buying an additional 202,136 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Adobe by 12.3% in the 3rd quarter. Jennison Associates LLC now owns 4,561,859 shares of the software company's stock worth $2,326,092,000 after buying an additional 498,957 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
About Adobe
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
