Adobe Inc. (NASDAQ:ADBE) CFO Daniel Durn Purchases 1,300 Shares

Adobe Inc. (NASDAQ:ADBE) CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Adobe Price Performance

Shares of ADBE stock traded down $2.35 during trading hours on Friday, hitting $387.26. 7,579,546 shares of the company’s stock were exchanged, compared to its average volume of 3,211,945. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market cap of $168.62 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37. The firm has a 50 day moving average of $434.53 and a two-hundred day moving average of $477.76. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the company earned $4.48 EPS. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Stifel Nicolaus cut their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Sanford C. Bernstein cut their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Robert W. Baird cut their target price on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $538.80.

Institutional Trading of Adobe

Large investors have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH grew its holdings in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after purchasing an additional 39,888 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment grew its holdings in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. SWAN Capital LLC purchased a new position in shares of Adobe during the 4th quarter worth $28,000. Finally, Copia Wealth Management purchased a new position in shares of Adobe during the 4th quarter worth $28,000. 81.79% of the stock is currently owned by hedge funds and other 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.