Adobe Systems Insider Holdings L.P. Valueact Unloads 2,533,106 Shares (ADBE)
Adobe Systems (NASDAQ:ADBE) Insider Holdings L.P. Valueact unloaded 2,533,106 shares of the company’s stock on the open market in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $52.13, for a total transaction of $132,050,815.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Adobe Systems (NASDAQ:ADBE) traded up 0.30% during mid-day trading on Thursday, hitting $52.065. 3,776,599 shares of the company’s stock traded hands. Adobe Systems has a one year low of $32.14 and a one year high of $52.96. The stock has a 50-day moving average of $49.79 and a 200-day moving average of $46.46. The company has a market cap of $26.027 billion and a P/E ratio of 59.26.
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 $1.35 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Credit Suisse reiterated a “hold” rating on shares of Adobe Systems in a research note to investors on Friday, September 27th. They now have a $45.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Adobe Systems from $50.00 to $54.00 in a research note to investors on Friday, September 27th. Finally, analysts at UBS AG raised their price target on shares of Adobe Systems from $50.00 to $58.00 in a research note to investors on Thursday, September 19th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $52.14.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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