Adobe (NASDAQ:ADBE) Shares Up 0.4% – Still a Buy?

Adobe Inc. (NASDAQ:ADBE)’s stock price traded up 0.4% during mid-day trading on Monday . The company traded as high as $500.65 and last traded at $497.08. Approximately 361,703 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,202,769 shares. The stock had previously closed at $494.90.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Piper Sandler Companies reiterated an “overweight” rating and issued a $635.00 price target on shares of Adobe in a research report on Friday, July 12th. Finally, Piper Sandler restated an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Price Performance

The firm’s 50 day simple moving average is $533.94 and its two-hundred day simple moving average is $516.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $215.06 billion, a P/E ratio of 43.91, a P/E/G ratio of 2.55 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS 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 company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period in the prior year, the business posted $3.26 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts predict that Adobe Inc. will post 14.8 earnings per share for the current year.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at $186,569,166. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the sale, the executive vice president now owns 19,658 shares in the company, valued at approximately $10,556,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,608 shares of company stock worth $17,486,391 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC raised its holdings in Adobe by 71.8% in the first quarter. Sound Income Strategies LLC now owns 390 shares of the software company’s stock worth $197,000 after buying an additional 163 shares during the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Adobe by 10.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 466 shares of the software company’s stock worth $235,000 after purchasing an additional 44 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its holdings in shares of Adobe by 4.4% during the first quarter. Key Client Fiduciary Advisors LLC now owns 997 shares of the software company’s stock valued at $503,000 after purchasing an additional 42 shares in the last quarter. Aspiriant LLC increased its holdings in Adobe by 7.1% in the 1st quarter. Aspiriant LLC now owns 2,711 shares of the software company’s stock worth $1,368,000 after buying an additional 179 shares in the last quarter. Finally, RFG Holdings Inc. bought a new stake in Adobe in the 1st quarter worth about $268,000. 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.