The 13,331 Shares of Adobe Systems Inc. (ADBE) Stock are sold by Michael A. Dillon

The 13,331 Shares of Adobe Systems Inc. (ADBE) Stock are sold by Michael A. Dillon

Adobe Systems Inc. (NASDAQ:ADBE) EVP Michael A. Dillon sold 13,331 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $109.64, for a total value of $1,461,610.84. Following the transaction, the executive vice president now owns 30,993 shares in the company, valued at approximately $3,398,072.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Adobe Systems Inc. (NASDAQ:ADBE) opened at 108.01 on Friday. The stock’s 50 day moving average price is $104.65 and its 200-day moving average price is $98.71. The firm has a market cap of $53.71 billion, a P/E ratio of 55.11 and a beta of 1.27. Adobe Systems Inc. has a 12 month low of $71.27 and a 12 month high of $110.13.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company earned $1.46 billion during the quarter. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. Equities research analysts anticipate that Adobe Systems Inc. will post $2.97 earnings per share for the current fiscal year.

A number of research analysts have commented on the company. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 19th. Vetr raised Adobe Systems from a “sell” rating to a “hold” rating and set a $92.54 target price on the stock in a research report on Thursday, August 25th. Cowen and Company reaffirmed an “outperform” rating and set a $120.00 target price on shares of Adobe Systems in a research report on Tuesday, September 27th. Stephens initiated coverage on Adobe Systems in a research report on Wednesday, August 10th. They set an “overweight” rating and a $125.00 target price on the stock. Finally, Argus lifted their target price on Adobe Systems from $110.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.37.

Hedge funds have recently bought and sold shares of the company. WFG Advisors LP raised its stake in Adobe Systems by 27.3% in the second quarter. WFG Advisors LP now owns 1,147 shares of the software company’s stock valued at $110,000 after buying an additional 246 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Adobe Systems by 13.5% in the second quarter. Advisory Services Network LLC now owns 1,237 shares of the software company’s stock worth $118,000 after buying an additional 147 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Adobe Systems by 231.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,339 shares of the software company’s stock worth $128,000 after buying an additional 935 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Adobe Systems by 57.0% in the second quarter. NEXT Financial Group Inc now owns 1,440 shares of the software company’s stock worth $137,000 after buying an additional 523 shares in the last quarter. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Adobe Systems during the second quarter worth $142,000. 87.72% of the stock is owned by institutional investors.

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