Adobe Inc. (NASDAQ:ADBE) EVP Sells $258,297.00 in Stock

Adobe Inc. (NASDAQ:ADBE) EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were 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 $10,556,346. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Scott Belsky also recently made the following trade(s):

• On Monday, July 15th, Scott Belsky sold 1,530 shares of Adobe stock. The shares were sold at an average price of $560.23, for a total value of $857,151.90.
• On Thursday, May 2nd, Scott Belsky sold 2,713 shares of Adobe stock. The shares were sold at an average price of $474.30, for a total value of $1,286,775.90.

Adobe Stock Up 1.9 %

Shares of ADBE opened at $542.44 on Monday. The firm has a market cap of $240.52 billion, a P/E ratio of 48.74, a P/E/G ratio of 2.83 and a beta of 1.30. The stock has a 50 day simple moving average of $516.90 and a two-hundred day simple moving average of $529.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Adobe from $525.00 to $580.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $600.00 target price on shares of Adobe in a report on Friday, June 14th. Stifel Nicolaus reduced their target price on Adobe from $625.00 to $600.00 and set a “buy” rating for the company in a report on Friday, June 7th. Oppenheimer reaffirmed an “outperform” rating and set a $580.00 target price on shares of Adobe in a report on Friday, June 14th. Finally, Robert W. Baird lifted their target price on Adobe from $525.00 to $545.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $603.33.

Institutional Trading of Adobe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barlow Wealth Partners Inc. bought a new stake in Adobe in the fourth quarter valued at approximately $16,700,000. Federated Hermes Inc. lifted its position in Adobe by 22.6% in the fourth quarter. Federated Hermes Inc. now owns 223,667 shares of the software company’s stock valued at $133,440,000 after purchasing an additional 41,164 shares during the last quarter. Mainsail Financial Group LLC raised its holdings in shares of Adobe by 9.6% during the fourth quarter. Mainsail Financial Group LLC now owns 2,100 shares of the software company’s stock valued at $1,252,000 after acquiring an additional 184 shares in the last quarter. Vise Technologies Inc. raised its holdings in shares of Adobe by 267.3% during the fourth quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock valued at $4,635,000 after acquiring an additional 5,654 shares in the last quarter. Finally, Steph & Co. raised its holdings in shares of Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

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.