Adobe Inc. (NASDAQ:ADBE) Given Average Recommendation of “Hold” by Analysts

Shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) have been assigned a consensus rating of “Hold” from the thirty research firms that are presently covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $415.84.

ADBE has been the topic of a number of recent research reports. Moffett Nathanson initiated coverage on shares of Adobe in a research note on Thursday, September 22nd. They issued a “hold” rating and a $354.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Adobe from $310.00 to $340.00 in a research report on Wednesday, December 14th. Mizuho lifted their price target on shares of Adobe from $360.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, December 16th. Citigroup lifted their price target on shares of Adobe from $337.00 to $355.00 and gave the stock a “neutral” rating in a research report on Monday, December 19th. Finally, Piper Sandler lifted their price target on shares of Adobe from $380.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th.

Adobe Price Performance

Shares of ADBE stock opened at $344.38 on Friday. Adobe has a 52-week low of $274.73 and a 52-week high of $540.46. The stock has a market cap of $160.10 billion, a PE ratio of 34.10, a PEG ratio of 2.15 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.14 and a current ratio of 1.11. The firm’s 50 day moving average price is $334.01 and its two-hundred day moving average price is $348.95.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Dana Rao sold 5,018 shares of Adobe stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $336.93, for a total value of $1,690,714.74. Following the sale, the executive vice president now directly owns 14,832 shares in the company, valued at approximately $4,997,345.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Scott Belsky sold 2,711 shares of Adobe stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $319.12, for a total transaction of $865,134.32. Following the completion of the sale, the executive vice president now owns 24,217 shares of the company’s stock, valued at approximately $7,728,129.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dana Rao sold 5,018 shares of Adobe stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $336.93, for a total transaction of $1,690,714.74. Following the sale, the executive vice president now directly owns 14,832 shares of the company’s stock, valued at approximately $4,997,345.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,861 shares of company stock worth $9,059,395. Insiders own 0.23% of the company’s stock.

Institutional Trading of Adobe

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc boosted its holdings in shares of Adobe by 221.0% during the 4th quarter. AdvisorNet Financial Inc now owns 2,433 shares of the software company’s stock worth $819,000 after buying an additional 1,675 shares during the period. First Heartland Consultants Inc. bought a new stake in Adobe in the 4th quarter valued at about $582,000. Merit Financial Group LLC boosted its holdings in Adobe by 70.3% in the 4th quarter. Merit Financial Group LLC now owns 6,609 shares of the software company’s stock valued at $2,224,000 after purchasing an additional 2,729 shares during the period. Segment Wealth Management LLC boosted its holdings in Adobe by 9.0% in the 4th quarter. Segment Wealth Management LLC now owns 1,923 shares of the software company’s stock valued at $647,000 after purchasing an additional 159 shares during the period. Finally, Jacobs & Co. CA boosted its holdings in Adobe by 1.7% in the 4th quarter. Jacobs & Co. CA now owns 36,884 shares of the software company’s stock valued at $12,412,000 after purchasing an additional 610 shares during the period. Institutional investors own 79.36% of the company’s stock.

Adobe Company Profile

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.