Insider Selling: Adobe Inc (NASDAQ:ADBE) CMO Sells $809,130.00 in Stock

Adobe Inc (NASDAQ:ADBE) CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $269.71, for a total transaction of $809,130.00. Following the completion of the sale, the chief marketing officer now directly owns 49,148 shares in the company, valued at $13,255,707.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

  • On Wednesday, September 18th, Ann Lewnes sold 3,000 shares of Adobe stock. The shares were sold at an average price of $274.34, for a total transaction of $823,020.00.
  • On Wednesday, August 21st, Ann Lewnes sold 3,000 shares of Adobe stock. The shares were sold at an average price of $289.32, for a total transaction of $867,960.00.

Shares of Adobe stock opened at $265.52 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.74 and a current ratio of 0.74. Adobe Inc has a 52-week low of $204.95 and a 52-week high of $313.11. The stock has a market capitalization of $130.33 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 2.59 and a beta of 1.09. The company’s 50 day moving average price is $278.16 and its 200-day moving average price is $283.92.

Adobe (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 17th. The software company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.08. Adobe had a net margin of 26.10% and a return on equity of 30.49%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business earned $1.73 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. As a group, equities research analysts forecast that Adobe Inc will post 6.39 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of ADBE. M Holdings Securities Inc. grew its holdings in shares of Adobe by 32.9% in the first quarter. M Holdings Securities Inc. now owns 1,994 shares of the software company’s stock worth $531,000 after purchasing an additional 494 shares during the last quarter. Horizon Investments LLC bought a new position in shares of Adobe in the first quarter worth approximately $498,000. Park National Corp OH grew its holdings in shares of Adobe by 19.2% in the second quarter. Park National Corp OH now owns 44,995 shares of the software company’s stock worth $13,258,000 after purchasing an additional 7,257 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Adobe by 12.5% in the second quarter. Private Trust Co. NA now owns 6,018 shares of the software company’s stock worth $1,773,000 after purchasing an additional 669 shares during the last quarter. Finally, Private Asset Management Inc. grew its holdings in shares of Adobe by 3.4% in the second quarter. Private Asset Management Inc. now owns 1,500 shares of the software company’s stock worth $442,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

A number of brokerages recently weighed in on ADBE. JMP Securities reaffirmed a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $310.00 target price (down from $315.00) on shares of Adobe in a research note on Wednesday, September 18th. Credit Suisse Group set a $325.00 target price on shares of Adobe and gave the company a “buy” rating in a research note on Tuesday, September 17th. Stephens set a $327.00 target price on shares of Adobe and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Adobe from $329.00 to $318.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $301.46.

Adobe Company Profile

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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Insider Buying and Selling by Quarter for Adobe (NASDAQ:ADBE)

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