Insider Selling: James Daley Sells 25,000 Shares of Adobe Systems Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) Director James Daley sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $52.70, for a total value of $1,317,500.00. Following the transaction, the director now directly owns 15,086 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $51.95.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.85% during mid-day trading on Friday, hitting $52.31. 12,326,309 shares of the company’s stock traded hands. Adobe Systems has a 52 week low of $31.33 and a 52 week high of $52.96. The stock’s 50-day moving average is $47.15 and its 200-day moving average is $45.22. The company has a market cap of $26.273 billion and a price-to-earnings ratio of 46.11. Adobe Systems also saw some unusual options trading activity on Tuesday. Stock traders bought 12,315 call options on the company. This represents an increase of 749% compared to the typical volume of 1,451 call options.
Adobe Systems (NASDAQ:ADBE) last released its earnings data on Tuesday, September 17th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $1.37 earnings per share for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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