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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