Adobe Systems Inc. (ADBE) Lowered to Sell at Vetr Inc.
Adobe Systems Inc. (NASDAQ:ADBE) was downgraded by equities research analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Monday. They presently have a $105.68 price objective on the software company’s stock. Vetr‘s price objective indicates a potential downside of 3.26% from the stock’s previous close.
A number of other analysts also recently commented on the company. Cowen and Company reissued an “outperform” rating and issued a $120.00 price objective on shares of Adobe Systems in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Adobe Systems in a research note on Friday, September 23rd. Dougherty & Co reissued a “buy” rating and issued a $122.00 price objective on shares of Adobe Systems in a research note on Friday, September 23rd. Argus boosted their price objective on Adobe Systems from $110.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, September 23rd. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $116.00 price objective (up previously from $115.00) on shares of Adobe Systems in a research note on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $111.37.
Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.55% on Monday, hitting $109.24. The stock had a trading volume of 1,581,880 shares. The company’s 50-day moving average price is $104.05 and its 200 day moving average price is $98.51. The firm has a market cap of $54.32 billion, a P/E ratio of 55.73 and a beta of 1.27. Adobe Systems has a 12-month low of $71.27 and a 12-month high of $110.13.
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Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, September 20th. The software company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. Adobe Systems had a return on equity of 15.03% and a net margin of 17.86%. The company had revenue of $1.46 billion for the quarter. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities research analysts forecast that Adobe Systems will post $2.97 earnings per share for the current fiscal year.
In related news, EVP Ann Lewnes sold 4,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $98.40, for a total transaction of $393,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael A. Dillon sold 5,450 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $101.85, for a total value of $555,082.50. Following the sale, the executive vice president now owns 44,324 shares in the company, valued at $4,514,399.40. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its stake in Adobe Systems by 16,033.1% in the second quarter. Brown Advisory Inc. now owns 3,828,878 shares of the software company’s stock worth $366,768,000 after buying an additional 3,805,145 shares during the period. FMR LLC raised its stake in Adobe Systems by 6.6% in the second quarter. FMR LLC now owns 36,342,447 shares of the software company’s stock worth $3,481,242,000 after buying an additional 2,249,163 shares during the period. Janus Capital Management LLC raised its stake in Adobe Systems by 19.9% in the second quarter. Janus Capital Management LLC now owns 13,353,901 shares of the software company’s stock worth $1,279,159,000 after buying an additional 2,215,100 shares during the period. Wellington Management Group LLP raised its stake in Adobe Systems by 46.2% in the first quarter. Wellington Management Group LLP now owns 5,463,118 shares of the software company’s stock worth $512,441,000 after buying an additional 1,726,306 shares during the period. Finally, UBS Group AG raised its stake in Adobe Systems by 212.2% in the first quarter. UBS Group AG now owns 2,337,570 shares of the software company’s stock worth $219,264,000 after buying an additional 1,588,934 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.
About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
To view Vetr’s full report, visit Vetr’s official website.
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