Adobe Systems Incorporated (NASDAQ:ADBE) Director Charles M. Geschke sold 21,276 shares of Adobe Systems stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total transaction of $3,969,037.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down $3.74 during midday trading on Friday, reaching $195.64. 2,534,935 shares of the company traded hands, compared to its average volume of 2,400,000. The stock has a market cap of $94,630.00, a price-to-earnings ratio of 57.71, a PEG ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05. Adobe Systems Incorporated has a 12 month low of $113.29 and a 12 month high of $204.45.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. research analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of ADBE. Janus Henderson Group PLC increased its holdings 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 worth $1,587,936,000 after acquiring an additional 9,957,241 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares in the last quarter. FMR LLC grew its holdings in shares of Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares in the last quarter. Polen Capital Management LLC grew its holdings in shares of Adobe Systems by 31.5% during the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after buying an additional 1,452,892 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Adobe Systems by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after buying an additional 1,190,108 shares in the last quarter. 87.37% of the stock is owned by institutional investors.
Several analysts have commented on ADBE shares. Robert W. Baird set a $160.00 price objective on shares of Adobe Systems and gave the company a “buy” rating in a research note on Friday, October 6th. Barclays lifted their price objective on shares of Adobe Systems from $167.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Vetr cut shares of Adobe Systems from a “hold” rating to a “strong sell” rating and set a $152.41 price objective for the company. in a research note on Thursday, October 19th. Cowen restated a “buy” rating and set a $200.00 price objective on shares of Adobe Systems in a research note on Monday, December 11th. Finally, Oppenheimer restated an “outperform” rating and set a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $197.79.
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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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