Adobe (NASDAQ:ADBE) Shares Down 0.3% – Time to Sell?

Adobe Inc. (NASDAQ:ADBE) was down 0.3% on Wednesday . The stock traded as low as $442.81 and last traded at $444.68. Approximately 2,281,872 shares were traded during trading, a decline of 31% from the average daily volume of 3,292,693 shares. The stock had previously closed at $445.80.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein dropped their price target 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. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $584.88.

Adobe Stock Down 0.8 %

The firm has a fifty day moving average price of $492.21 and a 200 day moving average price of $521.97. The firm has a market capitalization of $194.13 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.51 and a beta of 1.29. 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 (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,293 shares of company stock valued at $1,679,809 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Institutional investors and hedge funds have recently made changes to their positions in the business. Old Port Advisors grew its position in shares of Adobe by 5.2% during the 4th quarter. Old Port Advisors now owns 867 shares of the software company’s stock worth $386,000 after buying an additional 43 shares during the period. 1ST Source Bank grew its holdings in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares during the period. DGS Capital Management LLC increased its stake in Adobe by 1.8% in the third quarter. DGS Capital Management LLC now owns 2,436 shares of the software company’s stock valued at $1,261,000 after purchasing an additional 42 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Adobe in the third quarter worth $14,622,000. Finally, Inspire Trust Co. N.A. boosted its position in shares of Adobe by 9.1% during the third quarter. Inspire Trust Co. N.A. now owns 5,714 shares of the software company’s stock worth $2,959,000 after purchasing an additional 475 shares in the last quarter. 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.