Scott Belsky Sells 600 Shares of Adobe Inc (NASDAQ:ADBE) Stock

Adobe Inc (NASDAQ:ADBE) EVP Scott Belsky sold 600 shares of Adobe stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $492.02, for a total transaction of $295,212.00. Following the sale, the executive vice president now directly owns 10,853 shares of the company’s stock, valued at approximately $5,339,893.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Scott Belsky also recently made the following trade(s):

  • On Monday, August 17th, Scott Belsky sold 600 shares of Adobe stock. The stock was sold at an average price of $450.31, for a total transaction of $270,186.00.
  • On Wednesday, July 15th, Scott Belsky sold 600 shares of Adobe stock. The stock was sold at an average price of $435.16, for a total transaction of $261,096.00.

ADBE stock traded down $21.67 during trading on Wednesday, reaching $476.00. 8,419,304 shares of the company were exchanged, compared to its average volume of 3,275,031. The company has a 50-day moving average of $470.05 and a two-hundred day moving average of $395.83. The company has a market capitalization of $228.32 billion, a price-to-earnings ratio of 63.74, a P/E/G ratio of 3.77 and a beta of 0.94. Adobe Inc has a twelve month low of $255.13 and a twelve month high of $536.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.29 and a quick ratio of 1.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 15th. The software company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.16. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Adobe had a net margin of 30.72% and a return on equity of 35.53%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 EPS. On average, analysts forecast that Adobe Inc will post 8.05 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC grew its holdings in Adobe by 67.7% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 20,835 shares of the software company’s stock worth $9,070,000 after acquiring an additional 8,413 shares during the last quarter. Elevated Capital Advisors LLC bought a new stake in Adobe during the 2nd quarter worth approximately $1,333,000. FinTrust Capital Advisors LLC grew its holdings in Adobe by 115.2% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,106 shares of the software company’s stock worth $481,000 after acquiring an additional 592 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Adobe by 3.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 471,160 shares of the software company’s stock worth $205,100,000 after acquiring an additional 15,292 shares during the last quarter. Finally, Garde Capital Inc. grew its holdings in Adobe by 17.3% during the 2nd quarter. Garde Capital Inc. now owns 772 shares of the software company’s stock worth $336,000 after acquiring an additional 114 shares during the last quarter. 84.03% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on ADBE. BMO Capital Markets reiterated an “equal weight” rating and issued a $500.00 price objective (up previously from $375.00) on shares of Adobe in a research note on Wednesday. Griffin Securities lifted their price objective on shares of Adobe from $334.00 to $427.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Citigroup dropped their price objective on shares of Adobe from $530.00 to $523.00 and set a “neutral” rating for the company in a research note on Wednesday. Goldman Sachs Group lifted their price objective on shares of Adobe from $460.00 to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, BidaskClub cut shares of Adobe from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company. Adobe currently has an average rating of “Buy” and a consensus price target of $486.42.

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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