UBS Group Cuts Adobe (NASDAQ:ADBE) Price Target to $525.00

Adobe (NASDAQ:ADBE) had its price target lowered by UBS Group from $550.00 to $525.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

Other research analysts also recently issued research reports about the company. Bank of America reduced their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus decreased their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $610.00 target price on shares of Adobe in a research note on Thursday, December 5th. Morgan Stanley restated an “overweight” rating and issued a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, Sanford C. Bernstein lowered their price objective on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $584.88.

Adobe Stock Down 1.9 %

Shares of NASDAQ:ADBE opened at $465.69 on Thursday. The firm has a market cap of $205.00 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The company has a fifty day simple moving average of $505.16 and a 200 day simple moving average of $523.26. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe has a 12-month low of $433.97 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the firm earned $3.52 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate that Adobe will post 16.73 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, Director Amy Banse sold 606 shares of the firm’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 transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s 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 sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,793 shares of company stock valued at $18,069,669. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its holdings in Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after acquiring an additional 2,100 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after purchasing an additional 1,412 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after purchasing an additional 78,384 shares during the last quarter. Morse Asset Management Inc boosted its holdings in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after buying an additional 2,113 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Adobe by 13.8% in the third quarter. Hantz Financial Services Inc. now owns 78,682 shares of the software company’s stock worth $40,740,000 after buying an additional 9,519 shares during the last quarter. 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.