Shares of Adobe Inc (NASDAQ:ADBE) hit a new 52-week high during trading on Tuesday . The company traded as high as $278.35 and last traded at $278.60, with a volume of 135707 shares traded. The stock had previously closed at $272.21.

A number of analysts recently commented on ADBE shares. DZ Bank upgraded Adobe from a “hold” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, December 27th. Stephens started coverage on Adobe in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $278.00 price objective for the company. BidaskClub lowered Adobe from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $280.00 price objective on shares of Adobe in a research report on Friday, March 29th. Finally, Canaccord Genuity lifted their price objective on Adobe from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $285.56.

The stock has a market capitalization of $132.02 billion, a PE ratio of 50.18, a PEG ratio of 2.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.97 and a quick ratio of 0.97.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $1.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.55 billion. Adobe had a return on equity of 30.60% and a net margin of 28.08%. Adobe’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, equities research analysts forecast that Adobe Inc will post 6.24 EPS for the current year.

In related news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $272.18, for a total value of $816,540.00. Following the completion of the transaction, the chief marketing officer now directly owns 64,458 shares in the company, valued at approximately $17,544,178.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley Rencher sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $246.46, for a total value of $7,393,800.00. Following the completion of the transaction, the executive vice president now owns 42,340 shares of the company’s stock, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold a total of 287,330 shares of company stock valued at $71,134,520 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Brookstone Capital Management lifted its stake in Adobe by 4.6% in the 4th quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock valued at $210,000 after acquiring an additional 41 shares in the last quarter. Eagle Global Advisors LLC lifted its stake in Adobe by 1.7% in the 1st quarter. Eagle Global Advisors LLC now owns 2,522 shares of the software company’s stock valued at $672,000 after acquiring an additional 42 shares in the last quarter. JOYN Advisors Inc. lifted its stake in Adobe by 7.4% in the 4th quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock valued at $141,000 after acquiring an additional 43 shares in the last quarter. Ipswich Investment Management Co. Inc. lifted its stake in Adobe by 2.8% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 1,640 shares of the software company’s stock valued at $437,000 after acquiring an additional 45 shares in the last quarter. Finally, Townsend & Associates Inc lifted its stake in Adobe by 1.0% in the 1st quarter. Townsend & Associates Inc now owns 4,767 shares of the software company’s stock valued at $1,270,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

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Adobe Company Profile (NASDAQ:ADBE)

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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