Adobe Systems Incorporated (NASDAQ:ADBE) Director John E. Warnock sold 32,600 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $144.07, for a total transaction of $4,696,682.00. Following the completion of the sale, the director now owns 16,088 shares in the company, valued at $2,317,798.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) opened at 142.54 on Wednesday. Adobe Systems Incorporated has a 1-year low of $90.35 and a 1-year high of $144.81. The stock has a market cap of $70.47 billion, a P/E ratio of 49.65 and a beta of 0.98. The company’s 50-day moving average is $138.74 and its 200 day moving average is $123.07.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that Adobe Systems Incorporated will post $4.06 EPS for the current year.
Several analysts have recently commented on the stock. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research report on Monday. KeyCorp reiterated a “buy” rating on shares of Adobe Systems in a research report on Sunday. BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Investment Research upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research report on Friday, June 23rd. Finally, JMP Securities reiterated an “outperform” rating and issued a $152.00 price target (up from $138.00) on shares of Adobe Systems in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Adobe Systems currently has an average rating of “Buy” and an average price target of $154.01.
A number of hedge funds have recently bought and sold shares of ADBE. Clean Yield Group acquired a new stake in Adobe Systems during the first quarter valued at approximately $100,000. Washington Trust Bank increased its stake in Adobe Systems by 13.8% in the first quarter. Washington Trust Bank now owns 840 shares of the software company’s stock valued at $109,000 after buying an additional 102 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Adobe Systems during the first quarter valued at approximately $113,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in Adobe Systems during the fourth quarter valued at approximately $148,000. 87.93% of the stock is owned by institutional investors.
Adobe Systems Company Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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