Adobe Systems SVP Unloads $405,648 in Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) SVP David Wadhwani unloaded 5,599 shares of Adobe Systems stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $72.45, for a total value of $405,647.55. Following the sale, the senior vice president now directly owns 25,000 shares of the company’s stock, valued at approximately $1,811,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, June 19th. 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $74.00.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.08% on Wednesday, hitting $72.44. 2,218,848 shares of the company’s stock traded hands. Adobe Systems has a 52-week low of $44.70 and a 52-week high of $74.69. The stock has a 50-day moving average of $65.34 and a 200-day moving average of $63.42. The company has a market cap of $36.070 billion and a price-to-earnings ratio of 131.60.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Adobe Systems will post $1.23 earnings per share for the current fiscal year.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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