Adobe (NASDAQ:ADBE) Trading 0.4% Higher – Should You Buy?

Adobe Inc. (NASDAQ:ADBE) was up 0.4% on Thursday . The stock traded as high as $445.98 and last traded at $443.55. Approximately 690,018 shares were traded during trading, a decline of 82% from the average daily volume of 3,825,460 shares. The stock had previously closed at $441.68.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus reduced their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and reduced their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Citigroup lowered 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. Bank of America reduced their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Trading Up 1.0 %

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average price is $464.63 and its two-hundred day moving average price is $505.15. The firm has a market cap of $194.14 billion, a PE ratio of 35.97, a P/E/G ratio of 2.12 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 (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.52 earnings per share. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last quarter. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ADBE. Quantum Private Wealth LLC boosted its stake in Adobe by 9.0% in the 4th quarter. Quantum Private Wealth LLC now owns 1,709 shares of the software company’s stock worth $760,000 after purchasing an additional 141 shares in the last quarter. Palumbo Wealth Management LLC purchased a new position in Adobe in the 4th quarter worth $1,009,000. TigerOak Management L.L.C. purchased a new stake in Adobe during the 4th quarter valued at about $1,931,000. Newman Dignan & Sheerar Inc. increased its holdings in shares of Adobe by 3.2% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 1,655 shares of the software company’s stock valued at $736,000 after purchasing an additional 51 shares during the period. Finally, Hickory Asset Management Inc. purchased a new position in shares of Adobe in the fourth quarter worth about $350,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

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.