Adobe Systems Incorporated (NASDAQ:ADBE) VP Richard Rowley sold 1,348 shares of the company’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $108.13, for a total transaction of $145,759.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Adobe Systems Incorporated (NASDAQ:ADBE) opened at 108.26 on Wednesday. The firm has a market capitalization of $53.66 billion, a price-to-earnings ratio of 46.66 and a beta of 1.07. The firm’s 50-day moving average is $104.26 and its 200 day moving average is $102.65. Adobe Systems Incorporated has a one year low of $71.27 and a one year high of $111.09.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 15th. The software company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. The company earned $1.61 billion during the quarter. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. Analysts forecast that Adobe Systems Incorporated will post $3.83 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. increased its stake in Adobe Systems by 1.1% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 18,660 shares of the software company’s stock valued at $1,921,000 after buying an additional 200 shares in the last quarter. Efficient Advisors LLC purchased a new stake in shares of Adobe Systems during the third quarter worth $1,911,000. HighPoint Advisor Group LLC boosted its stake in shares of Adobe Systems by 6.9% in the third quarter. HighPoint Advisor Group LLC now owns 9,415 shares of the software company’s stock worth $996,000 after buying an additional 611 shares during the last quarter. ETRADE Capital Management LLC boosted its stake in shares of Adobe Systems by 67.6% in the third quarter. ETRADE Capital Management LLC now owns 11,059 shares of the software company’s stock worth $1,201,000 after buying an additional 4,459 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Adobe Systems by 435.5% in the third quarter. D.A. Davidson & CO. now owns 22,982 shares of the software company’s stock worth $2,492,000 after buying an additional 18,690 shares during the last quarter. 86.25% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. Cowen and Company reiterated a “buy” rating and issued a $120.00 price target on shares of Adobe Systems in a research report on Tuesday, December 13th. Zacks Investment Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 21st. Wunderlich reiterated a “hold” rating and issued a $115.00 price target on shares of Adobe Systems in a research report on Tuesday. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $114.00 price target (up from $113.00) on shares of Adobe Systems in a research report on Tuesday. Finally, Royal Bank Of Canada increased their price target on shares of Adobe Systems from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, September 21st. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $116.33.
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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