Adobe Systems VP Sells $314,004 in Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) VP Richard Rowley sold 6,056 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $51.85, for a total transaction of $314,003.60. Following the completion of the sale, the vice president now directly owns 16,981 shares in the company. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on ADBE shares. Analysts at UBS AG raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $50.00 to $58.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Adobe Systems (NASDAQ:ADBE) from $40.00 to $45.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems (NASDAQ:ADBE) in a research note to investors on Thursday. They now have a $55.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $51.95.
Adobe Systems (NASDAQ:ADBE) traded up 0.85% on Friday, hitting $52.31. 12,326,309 shares of the company’s stock traded hands. Adobe Systems has a one year low of $31.33 and a one year high of $52.96. The stock has a 50-day moving average of $47.15 and a 200-day moving average of $45.22. The company has a market cap of $26.273 billion and a price-to-earnings ratio of 46.11. Adobe Systems also was the recipient of unusually large options trading activity on Tuesday. Traders bought 12,315 call options on the company. This represents an increase of 749% compared to the average volume of 1,451 call options.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.34 by $0.02. The company had revenue of $995.00 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $0.58 earnings per share. Adobe Systems’s revenue was down 8.0% compared to the same quarter last year. Analysts expect that Adobe Systems will post $1.37 EPS for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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