Adobe Inc. (NASDAQ:ADBE) CEO Shantanu Narayen Sells 25,000 Shares

Adobe Inc. (NASDAQ:ADBE) CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Adobe Stock Down 0.5 %

ADBE stock opened at $515.38 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. The company has a 50-day moving average of $545.84 and a two-hundred day moving average of $517.96. The stock has a market capitalization of $228.52 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company earned $3.26 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Adobe Inc. will post 14.79 EPS for the current year.

Institutional Trading of Adobe

Institutional investors have recently modified their holdings of the company. Anchor Investment Management LLC raised its position in Adobe by 9.8% in the second quarter. Anchor Investment Management LLC now owns 16,006 shares of the software company’s stock worth $8,892,000 after purchasing an additional 1,430 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Adobe by 24.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 218,161 shares of the software company’s stock worth $121,197,000 after acquiring an additional 42,726 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Adobe in the second quarter valued at approximately $35,655,000. Coronation Fund Managers Ltd. increased its stake in shares of Adobe by 124.2% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 4,551 shares of the software company’s stock valued at $2,528,000 after buying an additional 2,521 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Adobe during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein reduced their price objective on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a research note on Friday, September 13th. Wells Fargo & Company boosted their price objective on shares of Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. StockNews.com upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Barclays boosted their price target on shares of Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets increased their price objective on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $606.40.

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.