Insider Selling: Adobe Systems Incorporated (ADBE) EVP Sells 1,953 Shares of Stock
Adobe Systems Incorporated (NASDAQ:ADBE) EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $152.09, for a total value of $297,031.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ann Lewnes also recently made the following trade(s):
- On Wednesday, September 13th, Ann Lewnes sold 1,953 shares of Adobe Systems stock. The shares were sold at an average price of $155.88, for a total value of $304,433.64.
- On Wednesday, August 9th, Ann Lewnes sold 1,953 shares of Adobe Systems stock. The shares were sold at an average price of $146.68, for a total value of $286,466.04.
Adobe Systems Incorporated (ADBE) traded down 0.03% during mid-day trading on Thursday, reaching $153.61. The company’s stock had a trading volume of 2,430,093 shares. The stock’s 50-day moving average is $151.85 and its 200-day moving average is $143.00. The firm has a market capitalization of $75.72 billion, a PE ratio of 48.29 and a beta of 0.98. Adobe Systems Incorporated has a 12 month low of $98.00 and a 12 month high of $157.89.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. Adobe Systems’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Systems Incorporated will post $4.22 EPS for the current year.
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A number of equities research analysts have recently weighed in on ADBE shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $160.00 price objective (up from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Vetr cut Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. Moffett Nathanson started coverage on Adobe Systems in a research note on Wednesday, September 6th. They set a “buy” rating and a $195.00 target price for the company. Finally, Wunderlich reissued a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $158.16.
A number of hedge funds have recently modified their holdings of ADBE. Capital Advisors Ltd. LLC bought a new stake in shares of Adobe Systems during the second quarter valued at approximately $100,000. CWM LLC raised its holdings in shares of Adobe Systems by 11.8% during the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Adobe Systems by 86.2% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems during the second quarter valued at approximately $141,000. Finally, Acrospire Investment Management LLC raised its holdings in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.
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.
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