Adobe Inc (NASDAQ:ADBE) CMO Ann Lewnes sold 3,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $260.54, for a total transaction of $781,620.00. Following the sale, the chief marketing officer now directly owns 69,368 shares in the company, valued at $18,073,138.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ann Lewnes also recently made the following trade(s):

  • On Wednesday, February 20th, Ann Lewnes sold 3,000 shares of Adobe stock. The stock was sold at an average price of $258.13, for a total transaction of $774,390.00.
  • On Wednesday, January 30th, Ann Lewnes sold 3,000 shares of Adobe stock. The stock was sold at an average price of $240.16, for a total transaction of $720,480.00.

Adobe stock traded up $4.44 during midday trading on Thursday, reaching $264.18. The company had a trading volume of 1,984,072 shares, compared to its average volume of 3,366,695. The firm has a market capitalization of $127.22 billion, a PE ratio of 47.60, a P/E/G ratio of 2.54 and a beta of 1.10. Adobe Inc has a 12-month low of $204.95 and a 12-month high of $277.61. The company has a current ratio of 0.97, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Adobe had a net margin of 28.08% and a return on equity of 30.60%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. On average, sell-side analysts predict that Adobe Inc will post 6.24 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their target price on shares of Adobe from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Zacks Investment Research lowered shares of Adobe from a “hold” rating to a “sell” rating in a research note on Tuesday, February 12th. Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 target price on the stock. in a research note on Friday, February 15th. DZ Bank reissued a “hold” rating on shares of Adobe in a research note on Friday, February 22nd. Finally, BidaskClub lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $285.56.

Institutional investors have recently modified their holdings of the stock. Brookstone Capital Management boosted its position in shares of Adobe by 4.6% during the 4th quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock worth $210,000 after purchasing an additional 41 shares during the period. JOYN Advisors Inc. boosted its position in shares of Adobe by 7.4% during the 4th quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock worth $141,000 after purchasing an additional 43 shares during the period. Founders Capital Management boosted its position in shares of Adobe by 0.3% during the 4th quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock worth $3,959,000 after purchasing an additional 50 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Adobe by 7.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 760 shares of the software company’s stock worth $172,000 after purchasing an additional 50 shares during the period. Finally, RB Capital Management LLC boosted its position in shares of Adobe by 1.3% during the 4th quarter. RB Capital Management LLC now owns 4,513 shares of the software company’s stock worth $1,021,000 after purchasing an additional 57 shares during the period. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

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About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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