Adobe Inc. (NASDAQ:ADBE) Insider Anil Chakravarthy Sells 100 Shares

Adobe Inc. (NASDAQ:ADBE) insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the transaction, the insider now owns 33,609 shares in the company, valued at approximately $15,829,839. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Adobe Trading Up 1.3 %

ADBE opened at $472.90 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $211.86 billion, a price-to-earnings ratio of 45.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.28. The firm has a 50 day simple moving average of $521.61 and a 200 day simple moving average of $565.95. Adobe Inc. has a fifty-two week low of $331.89 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $2.97 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe announced that its Board of Directors has approved a stock buyback plan on Thursday, March 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADBE shares. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Wells Fargo & Company decreased their target price on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. TheStreet lowered shares of Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Evercore ISI reiterated an “outperform” rating and set a $650.00 target price on shares of Adobe in a research report on Wednesday, March 27th. Finally, DA Davidson reiterated a “buy” rating and set a $685.00 target price on shares of Adobe in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Institutional Investors Weigh In On Adobe

Several large investors have recently bought and sold shares of ADBE. Iron Horse Wealth Management LLC acquired a new position in shares of Adobe in the third quarter valued at approximately $25,000. HBC Financial Services PLLC acquired a new position in shares of Adobe in the third quarter valued at approximately $25,000. Global Wealth Strategies & Associates boosted its holdings in shares of Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after buying an additional 19 shares during the period. Tradewinds Capital Management LLC boosted its holdings in shares of Adobe by 266.7% in the first quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after buying an additional 40 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Adobe in the fourth quarter valued at approximately $35,000. Institutional investors own 81.79% of the company’s stock.

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.