Mark Garrett Sells 54,488 Shares of Adobe Systems Incorporated (ADBE) Stock

Adobe Systems Incorporated (NASDAQ:ADBE) CFO Mark Garrett sold 54,488 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up $3.65 during mid-day trading on Wednesday, reaching $197.13. 2,469,287 shares of the company’s stock were exchanged, compared to its average volume of 2,810,000. Adobe Systems Incorporated has a 1 year low of $116.67 and a 1 year high of $204.45. The company has a market capitalization of $96,900.00, a PE ratio of 58.15, a PEG ratio of 2.35 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. analysts forecast that Adobe Systems Incorporated will post 5.12 EPS for the current year.

A number of research analysts have commented on ADBE shares. Pivotal Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and raised their price target for the stock from $118.00 to $160.00 in a research note on Wednesday, October 18th. JPMorgan Chase & Co. restated a “buy” rating and set a $185.00 price target on shares of Adobe Systems in a research note on Thursday, October 19th. Piper Jaffray Companies restated a “buy” rating and set a $195.00 price target on shares of Adobe Systems in a research note on Thursday, October 19th. BMO Capital Markets restated an “outperform” rating and set a $187.00 price target (up previously from $165.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $185.00 price target (up previously from $170.00) on shares of Adobe Systems in a research note on Thursday, October 19th. Eight 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 stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus price target of $198.15.

Several hedge funds and other institutional investors have recently made changes to their positions in ADBE. Janus Henderson Group PLC boosted its position in shares of Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after purchasing an additional 9,957,241 shares in the last quarter. Egerton Capital UK LLP boosted its position in shares of Adobe Systems by 119.6% during the fourth quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after purchasing an additional 1,596,653 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position 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 purchasing an additional 1,190,108 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of Adobe Systems by 371.2% during the fourth quarter. Standard Life Aberdeen plc now owns 1,317,654 shares of the software company’s stock worth $230,979,000 after purchasing an additional 1,038,038 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its position in shares of Adobe Systems by 49.2% during the fourth quarter. Maverick Capital Ltd. now owns 2,192,956 shares of the software company’s stock worth $384,294,000 after purchasing an additional 722,872 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Mark Garrett Sells 54,488 Shares of Adobe Systems Incorporated (ADBE) Stock” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/15/mark-garrett-sells-54488-shares-of-adobe-systems-incorporated-adbe-stock.html.

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.

Insider Buying and Selling by Quarter for Adobe Systems (NASDAQ:ADBE)

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply