Adobe (NASDAQ:ADBE) Trading Down 0.1% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE) dropped 0.1% during trading on Thursday . The stock traded as low as $498.59 and last traded at $505.46. Approximately 443,087 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 3,223,332 shares. The stock had previously closed at $505.81.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. TD Cowen lowered their target price on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a report on Monday, June 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Friday, September 13th. UBS Group reduced their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Bank of America reiterated a “buy” rating and issued a $640.00 target price on shares of Adobe in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $606.40.

Adobe Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.11. The firm has a 50 day moving average of $541.74 and a 200-day moving average of $516.31. The stock has a market capitalization of $224.90 billion, a PE ratio of 45.57, a P/E/G ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $3.26 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts forecast that Adobe Inc. will post 14.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Daniel Durn sold 6,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Daniel Durn sold 6,500 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now owns 2,797 shares of the company’s stock, valued at $1,579,186.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,759 shares of company stock valued at $17,642,653 in the last three months. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ADBE. HBW Advisory Services LLC lifted its position in Adobe by 5.6% during the 3rd quarter. HBW Advisory Services LLC now owns 891 shares of the software company’s stock worth $461,000 after acquiring an additional 47 shares during the last quarter. Rockland Trust Co. raised its stake in Adobe by 8.6% during the 3rd quarter. Rockland Trust Co. now owns 1,157 shares of the software company’s stock valued at $599,000 after purchasing an additional 92 shares during the last quarter. Private Client Services LLC boosted its holdings in Adobe by 10.0% in the 3rd quarter. Private Client Services LLC now owns 3,642 shares of the software company’s stock valued at $1,886,000 after purchasing an additional 331 shares during the period. Apella Capital LLC grew its position in Adobe by 6.2% in the 3rd quarter. Apella Capital LLC now owns 631 shares of the software company’s stock worth $319,000 after purchasing an additional 37 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its holdings in shares of Adobe by 10.8% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 7,005 shares of the software company’s stock worth $3,627,000 after purchasing an additional 685 shares during the period. 81.79% of the stock is owned by institutional investors.

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.