Adobe (NASDAQ:ADBE) Stock Price Down 0.7% – Should You Sell?

Adobe Inc. (NASDAQ:ADBE)’s stock price traded down 0.7% during trading on Tuesday . The company traded as low as $491.55 and last traded at $494.04. 450,404 shares traded hands during trading, a decline of 86% from the average session volume of 3,195,734 shares. The stock had previously closed at $497.71.

Analysts Set New Price Targets

ADBE has been the subject of a number of research reports. Barclays boosted their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. UBS Group decreased their price objective on Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Citigroup increased their target price on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. StockNews.com raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $606.40.

Adobe Stock Down 1.6 %

The firm has a market capitalization of $215.06 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average price is $532.85 and its 200 day moving average price is $515.83.

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

Insider Activity at Adobe

In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the transaction, the chief financial officer now owns 20,838 shares in the company, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Adobe news, CFO Daniel Durn sold 6,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at approximately $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,030 shares of company stock worth $17,176,005 over the last quarter. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Adobe

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Adobe by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock worth $20,511,473,000 after acquiring an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Adobe by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the period. Principal Financial Group Inc. boosted its position in Adobe by 0.6% during the second quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after purchasing an additional 12,065 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Adobe by 0.8% in the second quarter. Clearbridge Investments LLC now owns 1,974,734 shares of the software company’s stock valued at $1,097,044,000 after purchasing an additional 15,685 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Adobe by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock valued at $945,780,000 after buying an additional 185,737 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

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.