Insider Selling: Edward W. Barnholt Sells 31,887 Shares of Adobe Systems Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) Director Edward W. Barnholt sold 31,887 shares of Adobe Systems stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $72.61, for a total transaction of $2,315,315.07. Following the sale, the director now directly owns 25,712 shares of the company’s stock, valued at approximately $1,866,948. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Adobe Systems (NASDAQ:ADBE) traded down 2.12% during mid-day trading on Tuesday, hitting $71.14. The stock had a trading volume of 2,789,116 shares. 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 $68.16 and a 200-day moving average of $64.38. The company has a market cap of $35.383 billion and a P/E ratio of 132.15.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data 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.
ADBE has been the subject of a number of recent research reports. Analysts at TheStreet upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating in a research note on Monday, June 30th. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Adobe Systems currently has a consensus rating of “Buy” and an average target price of $74.00.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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