Adobe Inc. (NASDAQ:ADBE) EVP Gloria Chen Sells 42 Shares of Stock

Adobe Inc. (NASDAQ:ADBE) EVP Gloria Chen sold 42 shares of the firm’s stock in a transaction on Wednesday, November 24th. The shares were sold at an average price of $654.73, for a total transaction of $27,498.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Gloria Chen also recently made the following trade(s):

  • On Friday, September 24th, Gloria Chen sold 42 shares of Adobe stock. The shares were sold at an average price of $628.00, for a total transaction of $26,376.00.

NASDAQ:ADBE traded up $3.16 during mid-day trading on Thursday, hitting $668.32. 2,426,171 shares of the company’s stock were exchanged, compared to its average volume of 2,221,317. Adobe Inc. has a one year low of $420.78 and a one year high of $699.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.39 and a quick ratio of 1.39. The business has a fifty day moving average price of $630.58 and a 200 day moving average price of $602.04. The company has a market cap of $318.39 billion, a PE ratio of 55.28, a P/E/G ratio of 3.43 and a beta of 1.05.

Adobe (NASDAQ:ADBE) last issued its earnings results on Monday, September 20th. The software company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.10. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.90 billion. Adobe had a net margin of 38.67% and a return on equity of 35.95%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. On average, equities analysts forecast that Adobe Inc. will post 10.52 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Baldrige Asset Management LLC bought a new position in shares of Adobe in the second quarter worth approximately $26,000. Key Financial Inc bought a new position in shares of Adobe in the second quarter worth approximately $29,000. Atlantic Trust LLC bought a new position in shares of Adobe in the second quarter worth approximately $34,000. JFS Wealth Advisors LLC lifted its stake in shares of Adobe by 857.1% in the third quarter. JFS Wealth Advisors LLC now owns 67 shares of the software company’s stock worth $39,000 after buying an additional 60 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Adobe in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Several analysts have recently weighed in on ADBE shares. Guggenheim restated a “hold” rating on shares of Adobe in a research report on Wednesday, September 22nd. Jefferies Financial Group raised their price objective on shares of Adobe from $750.00 to $760.00 and gave the company a “buy” rating in a research report on Wednesday, September 22nd. Atlantic Securities upgraded shares of Adobe from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $600.00 to $820.00 in a research report on Monday. Mizuho reiterated a “buy” rating and issued a $695.00 target price (up previously from $640.00) on shares of Adobe in a research report on Friday, September 17th. Finally, Citigroup lifted their target price on shares of Adobe from $575.00 to $678.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Adobe has a consensus rating of “Buy” and a consensus target price of $693.80.

About Adobe

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 Light room and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.

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