Insider Selling: Robert K. Burgess Sells 25,000 Shares of Adobe Systems Stock (ADBE)
Adobe Systems (NASDAQ:ADBE) Director Robert K. Burgess unloaded 25,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.11, for a total value of $1,727,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Adobe Systems (NASDAQ:ADBE) traded down 0.25% during mid-day trading on Monday, hitting $68.77. 3,037,307 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 $71.78 and a 200-day moving average of $65.90. The company has a market cap of $34.204 billion and a price-to-earnings ratio of 125.35.
Adobe Systems (NASDAQ:ADBE) last released its 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.
Several analysts have recently commented on the stock. 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $74.24.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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