Ann Lewnes Sells 1,953 Shares of Adobe Systems Incorporated (ADBE) Stock

Adobe Systems Incorporated (NASDAQ:ADBE) EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $173.50, for a total value of $338,845.50. Following the sale, the executive vice president now owns 50,497 shares of the company’s stock, valued at approximately $8,761,229.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ann Lewnes also recently made the following trade(s):

  • On Wednesday, November 8th, Ann Lewnes sold 1,953 shares of Adobe Systems stock. The shares were sold at an average price of $181.19, for a total value of $353,864.07.
  • On Wednesday, October 11th, Ann Lewnes sold 1,953 shares of Adobe Systems stock. The shares were sold at an average price of $152.09, for a total value of $297,031.77.

Shares of Adobe Systems Incorporated (NASDAQ ADBE) opened at $177.51 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a fifty-two week low of $101.91 and a fifty-two week high of $186.27. The company has a market cap of $87,502.30, a price-to-earnings ratio of 50.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. equities analysts forecast that Adobe Systems Incorporated will post 4.66 earnings per share for the current fiscal year.

Several equities analysts have commented on ADBE shares. Citigroup increased their target price on shares of Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target for the company in a report on Wednesday, November 29th. Credit Suisse Group restated a “positive” rating and set a $170.00 price target (up from $160.00) on shares of Adobe Systems in a report on Wednesday, September 20th. Robert W. Baird restated a “buy” rating and set a $160.00 price target on shares of Adobe Systems in a report on Friday, September 1st. Finally, J P Morgan Chase & Co restated a “buy” rating and set a $185.00 price target on shares of Adobe Systems in a report on Thursday, October 19th. Seven equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $183.35.

Several hedge funds and other institutional investors have recently made changes to their positions in ADBE. FMR LLC lifted its position in Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after acquiring an additional 1,651,762 shares in the last quarter. BlackRock Inc. lifted its position in Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after acquiring an additional 2,621,275 shares in the last quarter. Vanguard Group Inc. lifted its position in Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after acquiring an additional 943,487 shares in the last quarter. Janus Henderson Group PLC lifted its position in Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after acquiring an additional 9,957,241 shares in the last quarter. Finally, Polen Capital Management LLC lifted its position in Adobe Systems by 3.7% in the 3rd quarter. Polen Capital Management LLC now owns 6,288,816 shares of the software company’s stock valued at $938,166,000 after acquiring an additional 226,286 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors.

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About Adobe Systems

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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