Adobe Inc (NASDAQ:ADBE) CMO Ann Lewnes Sells 5,000 Shares

Adobe Inc (NASDAQ:ADBE) CMO Ann Lewnes sold 5,000 shares of Adobe stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $385.52, for a total transaction of $1,927,600.00. Following the sale, the chief marketing officer now directly owns 49,874 shares in the company, valued at approximately $19,227,424.48. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Friday, May 1st, Ann Lewnes sold 5,000 shares of Adobe stock. The stock was sold at an average price of $348.26, for a total transaction of $1,741,300.00.
  • On Wednesday, April 1st, Ann Lewnes sold 5,000 shares of Adobe stock. The stock was sold at an average price of $306.97, for a total transaction of $1,534,850.00.

Shares of ADBE traded up $0.76 during mid-day trading on Tuesday, hitting $390.44. 2,508,293 shares of the company traded hands, compared to its average volume of 3,437,317. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50-day moving average price of $357.33 and a two-hundred day moving average price of $336.99. Adobe Inc has a 1 year low of $255.13 and a 1 year high of $391.27. The stock has a market cap of $186.26 billion, a price-to-earnings ratio of 59.16, a P/E/G ratio of 3.02 and a beta of 0.92.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 12th. The software company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.04. Adobe had a net margin of 27.72% and a return on equity of 33.54%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company earned $1.71 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts forecast that Adobe Inc will post 8 EPS for the current year.

Several equities research analysts recently commented on the stock. UBS Group dropped their price objective on shares of Adobe from $430.00 to $344.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Credit Suisse Group reissued a “buy” rating and set a $370.00 price objective on shares of Adobe in a research note on Wednesday, April 1st. Cfra dropped their price objective on shares of Adobe from $365.00 to $359.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Wells Fargo & Co dropped their price objective on shares of Adobe from $345.00 to $315.00 and set an “equal weight” rating on the stock in a research note on Friday, March 13th. Finally, Stifel Nicolaus decreased their target price on shares of Adobe from $350.00 to $325.00 and set a “buy” rating for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Adobe has an average rating of “Buy” and a consensus price target of $342.54.

A number of hedge funds have recently made changes to their positions in the business. Optimal Asset Management Inc. increased its holdings in Adobe by 81.4% during the first quarter. Optimal Asset Management Inc. now owns 18,804 shares of the software company’s stock valued at $5,984,000 after buying an additional 8,438 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in Adobe by 31.0% during the first quarter. State of Tennessee Treasury Department now owns 350,655 shares of the software company’s stock valued at $111,593,000 after buying an additional 82,892 shares during the last quarter. Tredje AP fonden increased its holdings in Adobe by 44.0% during the first quarter. Tredje AP fonden now owns 44,980 shares of the software company’s stock valued at $14,314,000 after buying an additional 13,753 shares during the last quarter. Rainier Group Investment Advisory LLC increased its holdings in Adobe by 18.8% during the first quarter. Rainier Group Investment Advisory LLC now owns 802 shares of the software company’s stock valued at $255,000 after buying an additional 127 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in shares of Adobe by 14.4% in the first quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the software company’s stock worth $653,000 after purchasing an additional 258 shares during the period. 84.25% of the stock is owned by institutional investors and hedge funds.

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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