Adobe Inc. (NASDAQ:ADBE) Director John E. Warnock Sells 615 Shares

Adobe Inc. (NASDAQ:ADBEGet Rating) Director John E. Warnock sold 615 shares of the stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $432.03, for a total transaction of $265,698.45. Following the completion of the sale, the director now owns 410,165 shares in the company, valued at approximately $177,203,584.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ:ADBE traded up $5.03 during midday trading on Monday, hitting $425.47. The company’s stock had a trading volume of 2,587,134 shares, compared to its average volume of 3,884,379. The business’s 50 day simple moving average is $451.85 and its 200 day simple moving average is $544.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $201.03 billion, a P/E ratio of 42.25, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. Adobe Inc. has a 12-month low of $407.94 and a 12-month high of $699.54.

Adobe (NASDAQ:ADBEGet Rating) last issued its earnings results on Tuesday, March 22nd. The software company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.03. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.24 billion. Adobe had a net margin of 29.90% and a return on equity of 36.47%. Adobe’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.64 earnings per share. On average, sell-side analysts predict that Adobe Inc. will post 11.09 earnings per share for the current fiscal year.

Several research firms recently commented on ADBE. The Goldman Sachs Group dropped their price target on shares of Adobe from $710.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Royal Bank of Canada dropped their price target on shares of Adobe from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Monday, March 21st. TheStreet lowered shares of Adobe from a “b” rating to a “c+” rating in a research report on Thursday, February 17th. Morgan Stanley dropped their price target on shares of Adobe from $652.00 to $591.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Adobe from $645.00 to $540.00 in a research report on Wednesday, March 23rd. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $590.24.

A number of large investors have recently bought and sold shares of ADBE. Norges Bank acquired a new position in Adobe in the 4th quarter valued at about $2,378,829,000. Castleview Partners LLC acquired a new position in Adobe in the 4th quarter valued at about $3,260,000. 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 last quarter. Renaissance Technologies LLC acquired a new position in Adobe in the 3rd quarter valued at about $593,241,000. Finally, C WorldWide Group Holding A S acquired a new position in Adobe in the 4th quarter valued at about $445,585,000. Institutional investors own 82.70% of the company’s stock.

Adobe Company Profile (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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Insider Buying and Selling by Quarter for Adobe (NASDAQ:ADBE)

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