Adobe’s (ADBE) “Hold” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Adobe (NASDAQ:ADBE) in a research report report published on Wednesday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a $475.00 price target on the software company’s stock, down from their previous price target of $600.00.

A number of other analysts have also recently commented on ADBE. BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Oppenheimer cut their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Citigroup dropped their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Argus raised Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Trading Down 0.7 %

Shares of NASDAQ ADBE opened at $419.58 on Wednesday. Adobe has a fifty-two week low of $415.51 and a fifty-two week high of $638.25. The firm has a market capitalization of $184.70 billion, a P/E ratio of 33.84, a P/E/G ratio of 2.51 and a beta of 1.31. 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’s 50 day simple moving average is $486.71 and its 200 day simple moving average is $518.66.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.52 EPS. On average, analysts predict that Adobe will post 16.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm’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 sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,293 shares of company stock worth $1,679,809. Insiders own 0.15% of the company’s stock.

Institutional Trading of Adobe

Several hedge funds have recently added to or reduced their stakes in ADBE. Piscataqua Savings Bank increased its position in Adobe by 226.7% during the 3rd 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. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the third quarter valued at about $26,000. Groupama Asset Managment increased its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC boosted its holdings in Adobe by 141.7% in the 3rd 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 during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

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.