Adobe (NASDAQ:ADBE) Given New $645.00 Price Target at Barclays

Adobe (NASDAQ:ADBE) had its price target decreased by Barclays from $675.00 to $645.00 in a research report report published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the software company’s stock.

A number of other equities analysts have also recently commented on ADBE. Sanford C. Bernstein reduced their price target on Adobe from $660.00 to $644.00 and set an “outperform” rating for the company in a report on Friday, September 13th. UBS Group reduced their price target on shares of Adobe from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group cut their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Mizuho reduced their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $584.88.

Adobe Stock Down 13.7 %

ADBE opened at $474.63 on Thursday. The firm’s fifty day moving average price is $506.57 and its two-hundred day moving average price is $523.36. 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 company has a market capitalization of $208.93 billion, a P/E ratio of 38.28, a P/E/G ratio of 2.52 and a beta of 1.29. Adobe has a fifty-two week low of $433.97 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.59% and a return on equity of 42.82%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Adobe will post 14.82 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,793 shares of company stock worth $18,069,669. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in Adobe during the 3rd quarter worth $26,000. Piscataqua Savings Bank grew its position in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe during the 3rd quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Adobe in the second quarter worth $33,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Company Profile

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.