Adobe (NASDAQ:ADBE) Trading Down 1.2% – Should You Sell?

Shares of Adobe Inc. (NASDAQ:ADBE) were down 1.2% on Monday . The company traded as low as $438.57 and last traded at $441.00. Approximately 818,925 shares were traded during trading, a decline of 75% from the average daily volume of 3,285,627 shares. The stock had previously closed at $446.48.

Analyst Upgrades and Downgrades

ADBE has been the topic of several research analyst reports. Sanford C. Bernstein decreased their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Oppenheimer decreased their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Morgan Stanley reiterated an “overweight” rating and set a $660.00 price target on shares of Adobe in a research report on Friday, September 13th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $584.88.

Adobe Trading Up 0.0 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $495.02 and a two-hundred day simple moving average of $523.18. The stock has a market cap of $196.61 billion, a price-to-earnings ratio of 36.02, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 45.22%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.52 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,293 shares of company stock worth $1,679,809 over the last 90 days. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares in the last quarter. Longview Partners Guernsey LTD bought a new position in shares of Adobe in the second quarter worth $663,745,000. FMR LLC increased its holdings in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Liberty Wealth Management LLC raised its stake in shares of Adobe by 55,496.6% during the second quarter. Liberty Wealth Management LLC now owns 572,645 shares of the software company’s stock valued at $318,127,000 after purchasing an additional 571,615 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Adobe by 982.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares during the period. Institutional investors own 81.79% of the company’s stock.

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.