Stock Traders Buy Large Volume of Call Options on Adobe Systems (ADBE)
Adobe Systems Incorporated (NASDAQ:ADBE) was the recipient of unusually large options trading activity on Monday. Traders acquired 14,327 call options on the company. This represents an increase of 408% compared to the typical daily volume of 2,821 call options.
In other news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the sale, the executive vice president now directly owns 56,356 shares in the company, valued at approximately $8,784,773.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles M. Geschke sold 25,000 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $145.16, for a total transaction of $3,629,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,359 shares of company stock worth $10,174,192. Insiders own 0.38% of the company’s stock.
Large investors have recently modified their holdings of the company. Clean Yield Group purchased a new stake in shares of Adobe Systems during the 1st quarter worth approximately $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems during the 2nd quarter worth approximately $100,000. CWM LLC lifted its position in shares of Adobe Systems by 11.8% during the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock worth $106,000 after buying an additional 79 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the 1st quarter worth approximately $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Adobe Systems by 86.2% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 87.40% of the company’s stock.
Shares of Adobe Systems (NASDAQ ADBE) opened at 149.96 on Thursday. The company’s 50-day moving average is $151.61 and its 200-day moving average is $140.16. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $157.89. The stock has a market cap of $73.99 billion, a PE ratio of 52.23 and a beta of 1.00.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts anticipate that Adobe Systems will post $4.06 EPS for the current year.
Several equities analysts recently commented on the stock. Vetr upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating and set a $146.89 price target on the stock in a report on Wednesday. Canaccord Genuity reiterated a “buy” rating and set a $170.00 price target (up from $165.00) on shares of Adobe Systems in a report on Wednesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Adobe Systems in a report on Wednesday. Wells Fargo & Company reiterated a “hold” rating and set a $145.00 price target (up from $127.50) on shares of Adobe Systems in a report on Wednesday. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $180.00 price target on shares of Adobe Systems in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $157.28.
Adobe Systems Company Profile
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.
Receive News & Ratings for Adobe Systems Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.