Adobe (NASDAQ:ADBE) Lowered to Hold at Edward Jones

Edward Jones lowered shares of Adobe (NASDAQ:ADBEGet Rating) from a buy rating to a hold rating in a research report released on Monday morning, Marketbeat reports.

A number of other research analysts also recently commented on the company. Mizuho dropped their price objective on Adobe from $440.00 to $360.00 in a report on Friday. Cowen dropped their price target on Adobe from $520.00 to $400.00 and set an outperform rating on the stock in a research note on Friday. Citigroup raised their price target on Adobe from $380.00 to $388.00 and gave the stock a neutral rating in a research note on Thursday, September 15th. KGI Securities initiated coverage on Adobe in a research note on Friday, September 2nd. They set a neutral rating on the stock. Finally, Oppenheimer downgraded Adobe from an outperform rating to a market perform rating in a research note on Thursday, September 15th. Sixteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $429.92.

Adobe Trading Down 1.1 %

ADBE opened at $296.06 on Monday. Adobe has a one year low of $292.14 and a one year high of $699.54. The company has a market cap of $138.56 billion, a P/E ratio of 29.20, a PEG ratio of 1.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.07 and a current ratio of 1.14. The business’s 50-day simple moving average is $396.83 and its 200-day simple moving average is $407.42.

Adobe (NASDAQ:ADBEGet Rating) last released its quarterly earnings data on Thursday, September 15th. The software company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.07. Adobe had a return on equity of 36.49% and a net margin of 28.00%. The business had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the business posted $2.65 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Adobe will post 10.98 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares of the company’s stock, valued at $1,010,033.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 transaction of $54,087.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,465 shares of the company’s stock, valued at $1,010,033.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 2,711 shares of Adobe stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $393.58, for a total value of $1,066,995.38. Following the transaction, the executive vice president now directly owns 26,089 shares of the company’s stock, valued at $10,268,108.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,637 shares of company stock valued at $1,438,682. 0.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Adobe

Hedge funds have recently bought and sold shares of the stock. MUFG Securities EMEA plc increased its position in Adobe by 27.9% during the first quarter. MUFG Securities EMEA plc now owns 4,563 shares of the software company’s stock worth $2,079,000 after buying an additional 996 shares in the last quarter. Select Equity Group L.P. purchased a new position in Adobe during the first quarter worth $57,922,000. Vident Investment Advisory LLC increased its position in Adobe by 17.7% during the fourth quarter. Vident Investment Advisory LLC now owns 8,751 shares of the software company’s stock worth $4,962,000 after buying an additional 1,318 shares in the last quarter. PFG Advisors increased its position in Adobe by 8.1% during the first quarter. PFG Advisors now owns 4,403 shares of the software company’s stock worth $2,006,000 after buying an additional 330 shares in the last quarter. Finally, Mirova US LLC grew its position in shares of Adobe by 26.5% in the first quarter. Mirova US LLC now owns 606,103 shares of the software company’s stock valued at $276,157,000 after purchasing an additional 126,810 shares during the period. Hedge funds and other 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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Analyst Recommendations for Adobe (NASDAQ:ADBE)

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