Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada lowered their price objective on shares of Adobe from $600.00 to $500.00 and set an outperform rating for the company in a research report on Tuesday. Barclays decreased their target price on shares of Adobe from $540.00 to $530.00 in a research report on Wednesday, March 23rd. Stifel Nicolaus decreased their target price on shares of Adobe from $700.00 to $600.00 and set a buy rating for the company in a research report on Wednesday, March 16th. Oppenheimer decreased their target price on shares of Adobe from $660.00 to $560.00 and set an outperform rating for the company in a research report on Wednesday, March 23rd. Finally, BMO Capital Markets reduced their price target on shares of Adobe from $535.00 to $450.00 in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $521.33.
ADBE opened at $365.08 on Friday. The company has a 50-day moving average of $409.29 and a 200-day moving average of $475.76. The company has a market capitalization of $172.50 billion, a P/E ratio of 36.25, a PEG ratio of 1.95 and a beta of 1.08. Adobe has a 1-year low of $360.90 and a 1-year high of $699.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.04 and a current ratio of 1.04.
In related news, EVP Scott Belsky sold 2,750 shares of the company’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $435.44, for a total transaction of $1,197,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 463 shares of the company’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $425.79, for a total transaction of $197,140.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,538 shares of company stock worth $4,793,387. 0.23% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ADBE. Norges Bank bought a new stake in shares of Adobe during the 4th quarter worth $2,378,829,000. Castleview Partners LLC bought a new stake in Adobe in the 4th quarter valued at $3,260,000. Flossbach Von Storch AG boosted its holdings in Adobe by 232.6% in the 1st quarter. Flossbach Von Storch AG now owns 1,800,423 shares of the software company’s stock valued at $820,309,000 after purchasing an additional 1,259,101 shares during the period. Polen Capital Management LLC boosted its holdings in Adobe by 22.5% in the 1st quarter. Polen Capital Management LLC now owns 6,662,539 shares of the software company’s stock valued at $3,035,586,000 after purchasing an additional 1,222,654 shares during the period. Finally, BlackRock Inc. boosted its holdings in Adobe by 3.3% in the 4th quarter. BlackRock Inc. now owns 37,526,571 shares of the software company’s stock valued at $21,279,818,000 after purchasing an additional 1,212,093 shares during the period. 82.54% of the stock is owned by institutional investors and hedge funds.
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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