Adobe’s (ADBE) Market Perform Rating Reiterated at JMP Securities

Adobe (NASDAQ:ADBE)‘s stock had its “market perform” rating restated by analysts at JMP Securities in a note issued to investors on Thursday,Benzinga reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group decreased their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday. Barclays boosted their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Argus raised Adobe to a “strong-buy” rating in a research report on Monday, September 16th. Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Bank of America dropped their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $584.88.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $465.69 on Thursday. Adobe has a fifty-two week low of $433.97 and a fifty-two week high of $638.25. The stock has a market capitalization of $205.00 billion, a price-to-earnings ratio of 37.56, a PEG ratio of 2.51 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average of $505.16 and a 200-day moving average of $522.95.

Adobe (NASDAQ:ADBE) last posted its quarterly 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 return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the firm earned $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Adobe will post 16.73 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This trade represents a 23.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,793 shares of company stock valued at $18,069,669. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in Adobe in the second quarter valued at approximately $663,745,000. FMR LLC grew its stake 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 worth $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Liberty Wealth Management LLC increased its holdings 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 worth $318,127,000 after buying an additional 571,615 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of Adobe by 982.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock valued at $300,919,000 after acquiring an additional 491,627 shares during 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.