Deutsche Bank Aktiengesellschaft Reiterates “Hold” Rating for Adobe (NASDAQ:ADBE)

Adobe (NASDAQ:ADBE)‘s stock had its “hold” rating reissued by investment analysts at Deutsche Bank Aktiengesellschaft in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $475.00 price target on the software company’s stock, down from their previous price target of $600.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 12.39% from the stock’s current price.

A number of other brokerages also recently weighed in on ADBE. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays dropped their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Finally, UBS Group dropped their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Adobe Price Performance

NASDAQ ADBE opened at $422.63 on Wednesday. The stock has a market capitalization of $186.04 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average is $488.06 and its two-hundred day moving average is $519.35. Adobe has a 1 year low of $420.51 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the company earned $3.52 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Adobe will post 16.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock worth $1,679,809 in the last ninety days. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Piscataqua Savings Bank lifted its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Adobe in the 3rd quarter valued at $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe during the third quarter worth $30,000. Finally, True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 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.