Adobe Inc. (NASDAQ:ADBE) CAO Sells $145,567.22 in Stock

Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Adobe Price Performance

Shares of ADBE traded up $4.10 during mid-day trading on Tuesday, reaching $442.70. The company had a trading volume of 5,375,388 shares, compared to its average volume of 4,064,137. The company’s 50-day moving average is $466.93 and its 200-day moving average is $506.42. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The company has a market capitalization of $192.71 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.52 EPS. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup decreased their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Mizuho dropped their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Oppenheimer reduced their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Institutional Trading of Adobe

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. FMR LLC raised its position in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Adobe during the fourth quarter worth $110,744,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Adobe in the third quarter valued at $126,703,000. 81.79% of the stock is owned by institutional investors.

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.