Adobe (NASDAQ:ADBE) Shares Up 0.1% – Time to Buy?

Shares of Adobe Inc. (NASDAQ:ADBE) rose 0.1% on Monday . The company traded as high as $408.60 and last traded at $406.19. Approximately 1,090,866 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,746,766 shares. The stock had previously closed at $405.92.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. DA Davidson decreased their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Barclays lowered their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Adobe Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day simple moving average is $481.07 and its 200-day simple moving average is $515.02. The firm has a market cap of $183.69 billion, a PE ratio of 33.65, a PEG ratio of 2.51 and a beta of 1.31.

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

Insider Activity at Adobe

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, 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 sold 1,763 shares of company stock worth $893,665 over the last three months. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Several institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at about $26,000. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its stake in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in Adobe during the 3rd quarter valued at about $36,000. 81.79% of the stock is 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.