Adobe (NASDAQ:ADBE) Earns Hold Rating from Deutsche Bank Aktiengesellschaft

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

ADBE has been the subject of a number of other reports. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets cut their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $660.00 target price on shares of Adobe in a report on Friday, September 13th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Adobe Stock Down 2.0 %

ADBE stock opened at $422.63 on Wednesday. The company has a 50 day moving average price of $488.06 and a two-hundred day moving average price of $519.35. 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 stock has a market capitalization of $186.04 billion, a P/E ratio of 34.08, a PEG ratio of 2.51 and a beta of 1.31. Adobe has a one year low of $420.51 and a one year high of $638.25.

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

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $333,300.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock valued at $1,679,809 in the last quarter. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Institutional investors have recently modified their holdings of the company. Commonwealth Financial Services LLC raised its stake in Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its position in Adobe by 4.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after buying an additional 20 shares in the last quarter. Connable Office Inc. raised its position in shares of Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares in the last quarter. 1ST Source Bank boosted its holdings in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after acquiring an additional 20 shares in the last quarter. Finally, Sfmg LLC increased its stake in shares of Adobe by 3.1% during the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after acquiring an additional 21 shares during the period. 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.