Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz Sells 334 Shares

Adobe Inc. (NASDAQ:ADBE) CAO Jillian Forusz sold 334 shares of the company’s 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 directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $4.10 during trading on Tuesday, hitting $442.70. 5,375,388 shares of the company traded hands, compared to its average volume of 4,064,137. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $466.93 and its 200-day moving average is $506.42. The stock has a market capitalization of $192.71 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.12 and a beta of 1.31.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a report on Wednesday, January 15th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Hedge Funds Weigh In On Adobe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADBE. V2 Financial group LLC lifted its holdings in Adobe by 9.1% in the fourth quarter. V2 Financial group LLC now owns 1,740 shares of the software company’s stock worth $774,000 after purchasing an additional 145 shares during the period. Stiles Financial Services Inc raised its position in Adobe by 8.8% in the fourth quarter. Stiles Financial Services Inc now owns 4,715 shares of the software company’s stock worth $2,096,000 after acquiring an additional 380 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Adobe by 0.4% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 587,211 shares of the software company’s stock valued at $257,550,000 after acquiring an additional 2,471 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of Adobe by 2.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,271 shares of the software company’s stock worth $5,901,000 after purchasing an additional 308 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in Adobe by 8.3% during the fourth quarter. Stephens Inc. AR now owns 45,862 shares of the software company’s stock valued at $20,394,000 after purchasing an additional 3,524 shares during the last quarter. 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.