Adobe Systems Inc. (NASDAQ:ADBE) Chairman John E. Warnock sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $106.99, for a total value of $534,950.00. Following the sale, the chairman now directly owns 16,088 shares of the company’s stock, valued at approximately $1,721,255.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
John E. Warnock also recently made the following trade(s):
- On Thursday, June 30th, John E. Warnock sold 4,000 shares of Adobe Systems stock. The shares were sold at an average price of $95.15, for a total value of $380,600.00.
Shares of Adobe Systems Inc. (NASDAQ:ADBE) opened at 108.54 on Monday. The company has a market cap of $53.97 billion, a P/E ratio of 55.38 and a beta of 1.27. Adobe Systems Inc. has a 1-year low of $71.27 and a 1-year high of $109.76. The firm has a 50-day moving average price of $102.66 and a 200-day moving average price of $97.65.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $1.46 billion for the quarter. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, equities analysts expect that Adobe Systems Inc. will post $2.97 EPS for the current year.
Several hedge funds have recently modified their holdings of ADBE. BlackRock Group LTD increased its stake in shares of Adobe Systems by 0.8% in the first quarter. BlackRock Group LTD now owns 4,149,783 shares of the software company’s stock worth $389,250,000 after buying an additional 31,678 shares during the last quarter. CLS Investments LLC increased its stake in shares of Adobe Systems by 11.4% in the first quarter. CLS Investments LLC now owns 5,035 shares of the software company’s stock worth $472,000 after buying an additional 516 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of Adobe Systems by 14.9% in the first quarter. Rehmann Capital Advisory Group now owns 3,548 shares of the software company’s stock worth $333,000 after buying an additional 461 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Adobe Systems by 62.1% in the first quarter. Prudential Financial Inc. now owns 994,860 shares of the software company’s stock worth $93,318,000 after buying an additional 381,280 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Adobe Systems by 6.7% in the first quarter. Stratos Wealth Partners LTD. now owns 10,032 shares of the software company’s stock worth $941,000 after buying an additional 633 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.
ADBE has been the subject of a number of analyst reports. Vetr lowered Adobe Systems from a “buy” rating to a “hold” rating and set a $95.70 price objective for the company. in a research note on Tuesday, July 5th. Stephens began coverage on Adobe Systems in a report on Wednesday, August 10th. They set an “overweight” rating and a $125.00 target price for the company. Cowen and Company restated an “outperform” rating and set a $120.00 target price on shares of Adobe Systems in a report on Tuesday, September 27th. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Thursday, September 22nd. Finally, Barclays PLC upped their target price on Adobe Systems to $75.00 in a report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $110.73.
Adobe Systems Company Profile
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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