Stifel Nicolaus Has Lowered Expectations for Adobe (NASDAQ:ADBE) Stock Price

Adobe (NASDAQ:ADBE) had its price target decreased by Stifel Nicolaus from $600.00 to $525.00 in a report issued on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the software company’s stock.

ADBE has been the subject of a number of other research reports. Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group dropped their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets dropped their price target on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research note on Thursday. KeyCorp dropped their price target on shares of Adobe from $450.00 to $390.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $540.60.

Adobe Price Performance

ADBE opened at $394.74 on Thursday. The company’s 50 day simple moving average is $437.03 and its 200 day simple moving average is $482.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe has a 1 year low of $374.50 and a 1 year high of $587.75. The stock has a market capitalization of $171.87 billion, a PE ratio of 31.83, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the company posted $4.48 earnings per share. As a group, sell-side analysts expect that Adobe will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adobe

A number of institutional investors have recently modified their holdings of ADBE. Swedbank AB raised its holdings in shares of Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares in the last quarter. United Bank raised its holdings in shares of Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock worth $1,344,000 after buying an additional 428 shares in the last quarter. Harbour Investments Inc. increased its holdings in Adobe by 194.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,397 shares of the software company’s stock worth $1,759,000 after purchasing an additional 2,242 shares in the last quarter. Haverford Trust Co increased its holdings in Adobe by 0.5% in the 3rd quarter. Haverford Trust Co now owns 5,772 shares of the software company’s stock worth $2,989,000 after purchasing an additional 27 shares in the last quarter. Finally, MQS Management LLC acquired a new position in Adobe in the 3rd quarter worth about $234,000. 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.