Adobe (NASDAQ:ADBE) Trading Down 1.2% – Should You Sell?

Shares of Adobe Inc. (NASDAQ:ADBE) were down 1.2% during mid-day trading on Friday . The company traded as low as $442.65 and last traded at $444.60. Approximately 800,548 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 3,286,995 shares. The stock had previously closed at $450.16.

Wall Street Analyst Weigh In

ADBE has been the topic of several research analyst reports. UBS Group lowered their price target on shares of Adobe from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada lowered their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $584.88.

Adobe Trading Down 1.6 %

The business has a 50-day moving average of $495.99 and a two-hundred day moving average of $522.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $195.05 billion, a price-to-earnings ratio of 35.73, a P/E/G ratio of 2.51 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.52 earnings per share. Research analysts predict that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,293 shares of company stock valued at $1,679,809. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its stake in Adobe by 18.2% in the second quarter. Harbour Investments Inc. now owns 1,155 shares of the software company’s stock worth $642,000 after purchasing an additional 178 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Adobe by 6.2% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 3,668 shares of the software company’s stock valued at $2,038,000 after acquiring an additional 214 shares in the last quarter. TFB Advisors LLC raised its stake in shares of Adobe by 14.2% in the second quarter. TFB Advisors LLC now owns 706 shares of the software company’s stock worth $392,000 after acquiring an additional 88 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Adobe during the second quarter worth approximately $38,423,000. Finally, Skyline Advisors Inc. grew its stake in shares of Adobe by 8.0% during the second quarter. Skyline Advisors Inc. now owns 2,703 shares of the software company’s stock valued at $1,502,000 after purchasing an additional 200 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

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.