Adobe (NASDAQ:ADBE) Sees Large Volume Increase

Adobe Inc. (NASDAQ:ADBEGet Rating) shares saw unusually-high trading volume on Friday . Approximately 1,487,663 shares were traded during trading, a decline of 49% from the previous session’s volume of 2,943,265 shares.The stock last traded at $403.75 and had previously closed at $392.06.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADBE shares. Barclays boosted their price target on shares of Adobe from $340.00 to $385.00 in a research note on Thursday, March 16th. Credit Suisse Group increased their price target on shares of Adobe from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, March 17th. StockNews.com assumed coverage on shares of Adobe in a research report on Thursday, May 18th. They set a “buy” rating for the company. UBS Group increased their price objective on shares of Adobe from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Finally, Mizuho raised their price target on shares of Adobe from $370.00 to $375.00 in a research note on Thursday, March 16th. Sixteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $388.00.

Adobe Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average price is $367.79 and its 200-day moving average price is $351.95. The company has a market cap of $188.25 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31.

Adobe (NASDAQ:ADBEGet Rating) last released its quarterly earnings data on Wednesday, March 15th. The software company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.62 billion. Adobe had a net margin of 26.32% and a return on equity of 36.53%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.84 earnings per share. As a group, analysts forecast that Adobe Inc. will post 12.26 earnings per share for the current year.

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 132 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $354.78, for a total value of $46,830.96. Following the completion of the transaction, the chief accounting officer now owns 3,610 shares in the company, valued at approximately $1,280,755.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, CAO Mark S. Garfield sold 132 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $354.78, for a total transaction of $46,830.96. Following the completion of the sale, the chief accounting officer now directly owns 3,610 shares of the company’s stock, valued at $1,280,755.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $374.56, for a total transaction of $1,123,680.00. Following the sale, the executive vice president now directly owns 24,683 shares of the company’s stock, valued at $9,245,264.48. The disclosure for this sale can be found here. Insiders sold 8,304 shares of company stock worth $3,055,314 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of Adobe

Hedge funds have recently made changes to their positions in the stock. Graham Capital Wealth Management LLC acquired a new position in Adobe in the first quarter worth approximately $204,246,000. NewSquare Capital LLC lifted its position in Adobe by 278.9% in the first quarter. NewSquare Capital LLC now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 53 shares during the period. Arcus Capital Partners LLC bought a new position in Adobe in the fourth quarter worth $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Adobe by 171.0% during the first quarter. Financial Management Professionals Inc. now owns 84 shares of the software company’s stock valued at $32,000 after acquiring an additional 53 shares during the period. Finally, Financial Freedom LLC bought a new position in shares of Adobe during the fourth quarter valued at $29,000. 79.36% of the stock is owned by hedge funds and other institutional investors.

About Adobe

(Get Rating)

Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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