Adobe (NASDAQ:ADBE) Price Target Lowered to $440.00 at Barclays

Adobe (NASDAQ:ADBEGet Rating) had its price target decreased by Barclays from $445.00 to $440.00 in a research note released on Thursday morning, The Fly reports. Barclays currently has an overweight rating on the software company’s stock.

A number of other research analysts have also commented on the company. Stifel Nicolaus lowered their price objective on Adobe from $600.00 to $500.00 in a report on Friday, June 17th. Wolfe Research lowered their target price on Adobe from $500.00 to $400.00 and set an outperform rating on the stock in a report on Friday, June 17th. Bank of America lowered their target price on Adobe from $560.00 to $450.00 and set a buy rating on the stock in a report on Friday, June 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Adobe from $575.00 to $500.00 in a report on Friday, June 17th. Finally, Jefferies Financial Group lowered their target price on Adobe from $550.00 to $500.00 in a report on Friday, June 17th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of Moderate Buy and a consensus target price of $489.12.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $383.63 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $179.54 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.03 and a beta of 1.14. The business’s 50-day simple moving average is $399.57 and its 200-day simple moving average is $412.33. Adobe has a 52 week low of $338.00 and a 52 week high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last issued its quarterly earnings data on Thursday, June 16th. The software company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.05. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.34 billion. Adobe had a return on equity of 36.70% and a net margin of 29.29%. During the same quarter in the prior year, the firm posted $2.56 EPS. As a group, equities research analysts expect that Adobe will post 10.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total value of $54,087.00. Following the completion of the transaction, the chief accounting officer now owns 2,465 shares in the company, valued at approximately $1,010,033.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Scott Belsky sold 2,711 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total transaction of $1,066,995.38. Following the completion of the sale, the executive vice president now owns 26,089 shares in the company, valued at $10,268,108.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 132 shares of the business’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $409.75, for a total value of $54,087.00. Following the sale, the chief accounting officer now owns 2,465 shares of the company’s stock, valued at approximately $1,010,033.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,637 shares of company stock worth $1,438,682. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adobe

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Adobe by 3.3% during the fourth quarter. BlackRock Inc. now owns 37,526,571 shares of the software company’s stock worth $21,279,818,000 after acquiring an additional 1,212,093 shares during the last quarter. State Street Corp grew its stake in shares of Adobe by 3.4% during the fourth quarter. State Street Corp now owns 19,551,566 shares of the software company’s stock worth $11,086,911,000 after purchasing an additional 643,656 shares during the period. Geode Capital Management LLC grew its stake in shares of Adobe by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 8,597,416 shares of the software company’s stock worth $4,863,475,000 after purchasing an additional 211,062 shares during the period. Polen Capital Management LLC grew its stake in shares of Adobe by 22.5% during the first quarter. Polen Capital Management LLC now owns 6,662,539 shares of the software company’s stock worth $3,035,586,000 after purchasing an additional 1,222,654 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Adobe by 7.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,424,266 shares of the software company’s stock worth $2,351,667,000 after purchasing an additional 435,380 shares during the period. Institutional investors own 80.75% of the company’s stock.

About Adobe

(Get Rating)

Adobe Inc 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.

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