Adobe Systems (ADBE) EVP Ann Lewnes Sells 2,937 Shares

Adobe Systems (NASDAQ:ADBE) EVP Ann Lewnes sold 2,937 shares of Adobe Systems stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $231.70, for a total value of $680,502.90. Following the sale, the executive vice president now directly owns 73,264 shares of the company’s stock, valued at $16,975,268.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

How to Become a New Pot Stock Millionaire
  • On Thursday, March 22nd, Ann Lewnes sold 2,940 shares of Adobe Systems stock. The stock was sold at an average price of $223.86, for a total value of $658,148.40.

Shares of ADBE traded down $3.48 during midday trading on Thursday, hitting $227.62. The company’s stock had a trading volume of 2,620,102 shares, compared to its average volume of 2,997,049. Adobe Systems has a one year low of $130.28 and a one year high of $233.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12. The firm has a market cap of $113,839.44, a price-to-earnings ratio of 63.40, a PEG ratio of 2.67 and a beta of 1.04.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company posted ($0.43) EPS. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. research analysts forecast that Adobe Systems will post 5.35 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADBE. Steward Partners Investment Advisory LLC acquired a new stake in shares of Adobe Systems during the 3rd quarter valued at $216,000. Atlantic Trust Group LLC boosted its holdings in shares of Adobe Systems by 117.1% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,024,227 shares of the software company’s stock valued at $152,795,000 after acquiring an additional 552,491 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Adobe Systems by 3.2% during the 3rd quarter. Prudential Financial Inc. now owns 2,167,611 shares of the software company’s stock valued at $323,364,000 after acquiring an additional 66,815 shares in the last quarter. Progressive Investment Management Corp boosted its holdings in shares of Adobe Systems by 5.6% during the 4th quarter. Progressive Investment Management Corp now owns 7,020 shares of the software company’s stock valued at $1,230,000 after acquiring an additional 374 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its holdings in shares of Adobe Systems by 10.1% during the 4th quarter. First Citizens Bank & Trust Co. now owns 8,853 shares of the software company’s stock valued at $1,551,000 after acquiring an additional 815 shares in the last quarter. 87.25% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the company. Zacks Investment Research cut Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Morgan Stanley reissued an “equal weight” rating and set a $235.00 price target (up from $193.00) on shares of Adobe Systems in a report on Friday, March 16th. JPMorgan Chase reissued a “neutral” rating and set a $235.00 price target (up from $210.00) on shares of Adobe Systems in a report on Friday, March 16th. Credit Suisse Group raised their price objective on Adobe Systems from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, March 16th. Finally, Citigroup raised their price objective on Adobe Systems to $250.00 and gave the stock a “buy” rating in a research note on Friday, March 16th. 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 stock. The company presently has a consensus rating of “Buy” and a consensus price target of $217.88.

COPYRIGHT VIOLATION NOTICE: “Adobe Systems (ADBE) EVP Ann Lewnes Sells 2,937 Shares” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/19/adobe-systems-adbe-evp-ann-lewnes-sells-2937-shares.html.

About Adobe Systems

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.

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