Adobe Systems Sees Unusually Large Options Volume (ADBE)
Shares of Adobe Systems (NASDAQ:ADBE) were the recipient of some unusual options trading on Monday. Stock investors acquired 11,347 put options on the company, Analyst RN reports. This is an increase of approximately 163% compared to the typical daily volume of 4,315 put options.
In other Adobe Systems news, SVP David Wadhwani sold 39,505 shares of Adobe Systems stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $65.61, for a total value of $2,591,923.05. Following the completion of the sale, the senior vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $1,640,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on ADBE shares. Analysts at Argus raised their price target on shares of Adobe Systems from $71.00 to $81.00 in a research note on Friday, March 21st. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Adobe Systems in a research note on Wednesday, March 19th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Wednesday, March 19th. They now have a $72.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $68.80.
Shares of Adobe Systems (NASDAQ:ADBE) traded down 1.39% during mid-day trading on Monday, hitting $60.47. 6,250,589 shares of the company’s stock traded hands. Adobe Systems has a 1-year low of $41.91 and a 1-year high of $71.11. The stock’s 50-day moving average is $67.15 and its 200-day moving average is $59.05. The company has a market cap of $30.098 billion and a price-to-earnings ratio of 117.92.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, March 18th. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.05. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $973.09 million. During the same quarter last year, the company posted $0.35 earnings per share. Adobe Systems’s revenue was down .8% compared to the same quarter last year. Analysts expect that Adobe Systems will post $1.16 EPS for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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