Adobe Inc. (NASDAQ:ADBE) Short Interest Update

Adobe Inc. (NASDAQ:ADBE) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 8,590,000 shares, a growth of 25.6% from the December 15th total of 6,840,000 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 3,560,000 shares, the short-interest ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ADBE. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Citigroup reduced their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Royal Bank of Canada reduced their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $573.00.

Adobe Trading Up 0.7 %

NASDAQ ADBE opened at $429.99 on Friday. The firm has a 50 day simple moving average of $477.84 and a 200-day simple moving average of $513.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. Adobe has a one year low of $403.75 and a one year high of $638.25. The firm has a market cap of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm posted $3.52 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Adobe will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock valued at $893,665. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares during the period. Geode Capital Management LLC lifted its stake in Adobe by 1.4% in the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after acquiring an additional 147,981 shares during the last quarter. FMR LLC lifted its stake in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after acquiring an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Adobe by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after acquiring an additional 140,390 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Company Profile

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.