Adobe Systems (NASDAQ:ADBE) had its price objective hoisted by investment analysts at Barclays to $193.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the software company’s stock. Barclays’ price objective points to a potential upside of 8.73% from the stock’s current price.
ADBE has been the topic of several other research reports. Citigroup boosted their price target on Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Vetr raised Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a research note on Wednesday, November 29th. Credit Suisse Group reaffirmed a “positive” rating and issued a $170.00 price target (up previously from $160.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $160.00 price target on shares of Adobe Systems in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $185.00 price target on shares of Adobe Systems in a research note on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $183.35.
Shares of Adobe Systems (NASDAQ:ADBE) opened at $177.51 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $87,502.30, a price-to-earnings ratio of 50.14, a P/E/G ratio of 2.24 and a beta of 1.05. Adobe Systems has a one year low of $101.91 and a one year high of $186.27.
In related news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total value of $297,031.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Warnock sold 6,800 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $174.20, for a total value of $1,184,560.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold 14,849 shares of company stock worth $2,554,091 in the last ninety days. 0.38% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC bought a new stake in Adobe Systems in the second quarter valued at about $100,000. Parkside Financial Bank & Trust increased its holdings in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares during the last quarter. BB&T Investment Services Inc. increased its holdings in Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in Adobe Systems in the second quarter valued at about $141,000. Finally, Acrospire Investment Management LLC increased its holdings in Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.
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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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