Adobe Systems (ADBE) Reaches New 1-Year High and Low at $232.21

Adobe Systems (NASDAQ:ADBE) reached a new 52-week high and low on Tuesday . The company traded as low as $232.21 and last traded at $231.28, with a volume of 2411640 shares traded. The stock had previously closed at $226.52.

ADBE has been the topic of a number of research reports. Zacks Investment Research cut Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. JMP Securities cut Adobe Systems from an “outperform” rating to a “market perform” rating in a report on Monday, March 26th. Royal Bank of Canada upped their price target on Adobe Systems to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Vetr cut Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $198.52 price target on the stock. in a report on Monday, December 18th. Finally, Barclays upped their price target on Adobe Systems from $193.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems currently has a consensus rating of “Buy” and an average target price of $217.88.

How to Become a New Pot Stock Millionaire

The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $110,342.90, a PE ratio of 64.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the firm earned ($0.43) earnings per share. The business’s revenue was up 23.6% on a year-over-year basis. research analysts forecast that Adobe Systems will post 5.35 earnings per share for the current fiscal year.

In related news, EVP Ann Lewnes sold 2,940 shares of the stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $223.86, for a total value of $658,148.40. Following the transaction, the executive vice president now directly owns 76,201 shares of the company’s stock, valued at approximately $17,058,355.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Shantanu Narayen sold 165,023 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $197.89, for a total value of $32,656,401.47. The disclosure for this sale can be found here. Insiders have sold 298,310 shares of company stock worth $58,931,687 in the last 90 days. Insiders own 0.33% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Avestar Capital LLC purchased a new position in shares of Adobe Systems in the 4th quarter worth $109,000. Cerebellum GP LLC purchased a new position in shares of Adobe Systems in the 4th quarter worth $118,000. Community Bank N.A. purchased a new position in shares of Adobe Systems in the 4th quarter worth $122,000. Truewealth LLC purchased a new position in shares of Adobe Systems in the 4th quarter worth $162,000. Finally, We Are One Seven LLC purchased a new position in shares of Adobe Systems in the 4th quarter worth $173,000. 87.25% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.dispatchtribunal.com/2018/04/17/adobe-systems-adbe-reaches-new-1-year-high-and-low-at-232-21.html.

Adobe Systems Company Profile

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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