Adobe (NASDAQ:ADBE) Trading Down 1.7% – Here’s Why
by Mitch Edgeman · The Markets DailyAdobe Inc. (NASDAQ:ADBE – Get Free Report)’s share price dropped 1.7% during trading on Monday . The stock traded as low as $318.34 and last traded at $318.73. Approximately 5,273,031 shares traded hands during trading, an increase of 34% from the average daily volume of 3,928,944 shares. The stock had previously closed at $324.19.
Wall Street Analyst Weigh In
ADBE has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI cut their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. UBS Group lowered their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research report on Friday, September 12th. Finally, Wells Fargo & Company cut their price objective on Adobe from $470.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Adobe presently has a consensus rating of “Hold” and an average price target of $428.96.
Check Out Our Latest Analysis on ADBE
Adobe Stock Down 0.6%
The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a market cap of $132.91 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.51 and a beta of 1.47. The business has a fifty day moving average price of $342.21 and a two-hundred day moving average price of $364.04.
Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.
Insider Transactions at Adobe
In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.
Institutional Trading of Adobe
A number of institutional investors and hedge funds have recently made changes to their positions in ADBE. 1248 Management LLC bought a new stake in Adobe during the first quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in Adobe in the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in Adobe during the 3rd quarter worth $27,000. LSV Asset Management lifted its position in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares during the last quarter. Finally, Caitlin John LLC bought a new stake in Adobe during the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds 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.
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