Adobe Systems Director James E. Daley Unloads 5,000 Shares (ADBE)
Adobe Systems (NASDAQ:ADBE) Director James E. Daley sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of $73.25, for a total value of $366,250.00. Following the completion of the transaction, the director now directly owns 20,674 shares in the company, valued at approximately $1,514,371. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Adobe Systems from $81.00 to $85.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Wednesday, June 18th. They now have a $71.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Adobe Systems to $77.00 in a research note on Wednesday, June 18th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.00.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.39% during mid-day trading on Monday, hitting $72.89. 2,354,491 shares of the company’s stock traded hands. Adobe Systems has a one year low of $43.37 and a one year high of $74.69. The stock’s 50-day moving average is $64.65 and its 200-day moving average is $63.17. The company has a market cap of $36.294 billion and a price-to-earnings ratio of 132.02.
Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, June 17th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.07. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $0.36 earnings per share. Adobe Systems’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that Adobe Systems will post $1.23 EPS for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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