Adobe Systems Incorporated (NASDAQ:ADBE) was upgraded by stock analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday. The brokerage currently has a $146.89 target price on the software company’s stock. Vetr‘s price objective would suggest a potential downside of 1.08% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. KeyCorp reiterated an “overweight” rating and set a $174.00 price objective on shares of Adobe Systems in a report on Wednesday. JMP Securities reiterated an “outperform” rating and set a $157.00 price objective (up previously from $152.00) on shares of Adobe Systems in a report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and set a $179.00 target price (up previously from $168.00) on shares of Adobe Systems in a research report on Wednesday. Cowen and Company reissued an “outperform” rating and set a $165.00 target price (up previously from $160.00) on shares of Adobe Systems in a research report on Wednesday. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Adobe Systems in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Adobe Systems has a consensus rating of “Buy” and a consensus price target of $157.28.

Shares of Adobe Systems (ADBE) traded down 0.54% during trading on Wednesday, hitting $148.50. 2,929,187 shares of the company traded hands. The company has a 50 day moving average price of $151.61 and a 200 day moving average price of $140.16. The company has a market capitalization of $73.27 billion, a price-to-earnings ratio of 46.68 and a beta of 1.00. Adobe Systems has a 52 week low of $98.00 and a 52 week high of $157.89. Adobe Systems also saw some unusual options trading activity on Wednesday. Investors acquired 27,240 put options on the company. This represents an increase of approximately 752% compared to the typical volume of 3,199 put options.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, analysts expect that Adobe Systems will post $4.22 earnings per share for the current year.

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In related news, EVP Ann Lewnes sold 1,953 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the transaction, the executive vice president now directly owns 59,991 shares in the company, valued at approximately $8,638,704. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Rosensweig sold 11,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the completion of the transaction, the director now owns 8,801 shares of the company’s stock, valued at $1,264,791.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,359 shares of company stock valued at $9,449,192. Company insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Advisors Ltd. LLC acquired a new position in shares of Adobe Systems in the 2nd quarter valued at $100,000. CWM LLC lifted its stake in shares of Adobe Systems by 11.8% in the 2nd quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after purchasing an additional 79 shares during the period. Clean Yield Group acquired a new position in shares of Adobe Systems in the 1st quarter valued at $100,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems in the 2nd quarter valued at $141,000. Finally, Acrospire Investment Management LLC lifted its stake in shares of Adobe Systems by 100.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 87.40% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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