Ann Lewnes Sells 2,955 Shares of Adobe Inc (ADBE) Stock

Adobe Inc (NASDAQ:ADBE) EVP Ann Lewnes sold 2,955 shares of Adobe stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $225.38, for a total transaction of $665,997.90. Following the sale, the executive vice president now owns 52,692 shares in the company, valued at $11,875,722.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Wednesday, October 17th, Ann Lewnes sold 2,910 shares of Adobe stock. The shares were sold at an average price of $261.21, for a total transaction of $760,121.10.
  • On Wednesday, September 19th, Ann Lewnes sold 2,941 shares of Adobe stock. The shares were sold at an average price of $271.14, for a total transaction of $797,422.74.

Shares of ADBE stock opened at $225.98 on Friday. Adobe Inc has a 12-month low of $165.68 and a 12-month high of $277.61. The stock has a market cap of $110.31 billion, a P/E ratio of 62.95, a PEG ratio of 2.43 and a beta of 1.15. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.21.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 13th. The software company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.04. Adobe had a net margin of 28.16% and a return on equity of 29.51%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm posted $1.10 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research analysts expect that Adobe Inc will post 5.66 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in ADBE. FMR LLC raised its stake in shares of Adobe by 0.5% in the third quarter. FMR LLC now owns 37,486,540 shares of the software company’s stock worth $10,119,492,000 after acquiring an additional 178,011 shares during the last quarter. BlackRock Inc. raised its stake in shares of Adobe by 0.6% in the third quarter. BlackRock Inc. now owns 33,974,587 shares of the software company’s stock worth $9,171,442,000 after acquiring an additional 191,786 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Adobe by 2.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,139,319 shares of the software company’s stock worth $1,740,637,000 after acquiring an additional 141,525 shares during the last quarter. Morgan Stanley raised its stake in shares of Adobe by 41.6% in the third quarter. Morgan Stanley now owns 4,858,611 shares of the software company’s stock worth $1,311,581,000 after acquiring an additional 1,426,859 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Adobe by 50.9% in the third quarter. AQR Capital Management LLC now owns 3,998,483 shares of the software company’s stock worth $1,079,391,000 after acquiring an additional 1,349,015 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on ADBE shares. Barclays lifted their target price on shares of Adobe from $297.00 to $304.00 and gave the company an “overweight” rating in a research report on Tuesday, October 16th. Argus lifted their target price on shares of Adobe from $289.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research upgraded shares of Adobe from a “hold” rating to a “buy” rating and set a $305.00 target price on the stock in a research report on Thursday, October 4th. BidaskClub lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Finally, Citigroup lifted their target price on shares of Adobe from $260.00 to $309.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Eleven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $272.55.

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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 customers to download and install the latest versions of its creative products.

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