Adobe Systems SVP Michael A. Dillon Sells 6,576 Shares (ADBE)
Adobe Systems (NASDAQ:ADBE) SVP Michael A. Dillon sold 6,576 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $71.98, for a total value of $473,340.48. Following the completion of the transaction, the senior vice president now directly owns 17,799 shares of the company’s stock, valued at approximately $1,281,172. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.03% on Wednesday, hitting $71.55. The stock had a trading volume of 1,705,551 shares. Adobe Systems has a 52-week low of $45.27 and a 52-week high of $74.69. The stock has a 50-day moving average of $71.04 and a 200-day moving average of $67.12. The company has a market cap of $35.587 billion and a P/E ratio of 130.05. Adobe Systems also was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 5,568,903 shares, a growth of 32.1% from the July 31st total of 4,216,377 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 2,413,971 shares, the short-interest ratio is presently 2.3 days.
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. 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 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, three have assigned a hold rating and fourteen have given a buy rating to the company. Adobe Systems presently has an average rating of “Buy” and an average target price of $74.19.
Adobe Systems Incorporated (NASDAQ:ADBE) is a diversified software company.
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