Insider Selling: Adobe Inc. (NASDAQ:ADBE) EVP Sells 481 Shares of Stock

Adobe Inc. (NASDAQ:ADBE) EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Scott Belsky also recently made the following trade(s):

• On Tuesday, October 15th, Scott Belsky sold 1,530 shares of Adobe stock. The shares were sold at an average price of $513.82, for a total value of $786,144.60.

Adobe Price Performance

NASDAQ:ADBE traded down $2.68 during trading hours on Monday, reaching $481.04. 2,299,513 shares of the company were exchanged, compared to its average volume of 3,186,134. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market cap of $213.29 billion, a PE ratio of 43.29, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The stock’s 50-day moving average is $530.03 and its 200-day moving average is $515.96.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company posted $3.26 EPS. Adobe’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. Barclays lifted their price objective on shares of Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $610.00 target price on shares of Adobe in a research note on Tuesday, October 15th. Stifel Nicolaus boosted their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Argus raised Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $606.40.

Institutional Trading of Adobe

Several large investors have recently made changes to their positions in ADBE. Stephens Inc. AR boosted its stake in Adobe by 7.6% during the 3rd quarter. Stephens Inc. AR now owns 42,338 shares of the software company’s stock worth $21,922,000 after purchasing an additional 3,008 shares during the last quarter. Norris Perne & French LLP MI boosted its position in Adobe by 0.5% during the third quarter. Norris Perne & French LLP MI now owns 45,291 shares of the software company’s stock worth $23,451,000 after acquiring an additional 243 shares during the last quarter. LCM Capital Management Inc grew its stake in Adobe by 1.3% during the 3rd quarter. LCM Capital Management Inc now owns 2,699 shares of the software company’s stock valued at $1,397,000 after acquiring an additional 34 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in Adobe by 0.9% in the 3rd quarter. PineStone Asset Management Inc. now owns 278,363 shares of the software company’s stock worth $144,131,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Fairfield Financial Advisors LTD boosted its holdings in shares of Adobe by 8.4% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 322 shares of the software company’s stock worth $167,000 after purchasing an additional 25 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other 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.