Adobe Inc. (NASDAQ:ADBE - Get Free Report) CEO Shantanu Narayen sold 75,000 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $243.54, for a total value of $18,265,500.00. Following the sale, the chief executive officer owned 359,538 shares in the company, valued at $87,561,884.52. This represents a 17.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Adobe Stock Up 1.0%
Shares of ADBE opened at $246.10 on Friday. The company has a market capitalization of $99.47 billion, a PE ratio of 14.33, a PEG ratio of 0.95 and a beta of 1.52. Adobe Inc. has a 12 month low of $224.13 and a 12 month high of $422.95. The stock's 50-day moving average price is $250.36 and its two-hundred day moving average price is $297.20. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.
Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Thursday, March 12th. The software company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.87 by $0.19. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.28 billion. Adobe had a return on equity of 64.48% and a net margin of 29.48%.The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.08 EPS. Adobe has set its FY 2026 guidance at 23.300-23.500 EPS and its Q2 2026 guidance at 5.800-5.850 EPS. On average, analysts anticipate that Adobe Inc. will post 19.14 EPS for the current year.
Adobe declared that its Board of Directors has approved a stock buyback program on Tuesday, April 21st that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the software company to repurchase up to 24.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages have commented on ADBE. Wells Fargo & Company cut their target price on Adobe from $420.00 to $405.00 and set an "overweight" rating on the stock in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Adobe in a report on Friday, March 13th. Barclays downgraded Adobe from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $335.00 to $275.00 in a report on Friday, March 13th. DA Davidson set a $300.00 target price on Adobe in a report on Friday, March 13th. Finally, BTIG Research began coverage on Adobe in a report on Monday, April 13th. They set a "neutral" rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $338.15.
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Key Adobe News
Here are the key news stories impacting Adobe this week:
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in ADBE. Western Pacific Wealth Management LP acquired a new position in shares of Adobe in the 4th quarter valued at about $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Adobe in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Adobe in the 3rd quarter valued at about $27,000. Caitlin John LLC acquired a new position in shares of Adobe in the 3rd quarter valued at about $28,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of Adobe in the 4th quarter valued at about $28,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Adobe Company Profile
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Get Free Report)
Adobe Inc, founded in 1982 by John Warnock and Charles Geschke and headquartered in San Jose, California, is a global software company that develops tools and services for creative professionals, marketers and enterprises. Under the leadership of CEO Shantanu Narayen, who has led the company since 2007, Adobe has evolved from a provider of desktop publishing tools into a cloud-centric provider of digital media and digital experience solutions.
The company's core offerings are organized around digital media and digital experience.
Further Reading
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