Insider Selling: Adobe Systems CEO Sells 36,762 Shares of Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) CEO Shantanu Narayen sold 36,762 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $68.98, for a total transaction of $2,535,842.76. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Adobe Systems (NASDAQ:ADBE) traded down 0.25% on Monday, hitting $68.77. The stock had a trading volume of 3,037,307 shares. Adobe Systems has a one year low of $44.70 and a one year high of $74.69. The stock’s 50-day moving average is $71. and its 200-day moving average is $66.03. The company has a market cap of $34.204 billion and a price-to-earnings ratio of 125.35.
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. On average, analysts predict that Adobe Systems will post $1.23 earnings per share for the current fiscal year.
ADBE has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Adobe Systems in a research note on Friday, July 11th. They now have a $75.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Adobe Systems from a “hold” rating to a “buy” rating in a research note on Monday, June 30th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $74.24.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.