Adobe Systems Incorporated (ADBE) EVP Sells $379,789.80 in Stock
Adobe Systems Incorporated (NASDAQ:ADBE) EVP Matthew Thompson sold 2,190 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total transaction of $379,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.15% during midday trading on Wednesday, reaching $171.83. The company’s stock had a trading volume of 2,785,455 shares. The firm has a market capitalization of $84.70 billion, a PE ratio of 54.02 and a beta of 0.98. The company’s 50-day moving average price is $154.05 and its 200 day moving average price is $145.17. Adobe Systems Incorporated has a 1-year low of $98.00 and a 1-year high of $175.87.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.01 by $0.09. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. On average, equities research analysts forecast that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.
Several analysts recently issued reports on the stock. Citigroup Inc. boosted their price objective on shares of Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets restated an “outperform” rating and issued a $187.00 price objective (up from $165.00) on shares of Adobe Systems in a report on Thursday, October 19th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $190.00 price objective (up from $153.00) on shares of Adobe Systems in a report on Thursday, October 19th. Royal Bank Of Canada boosted their price objective on shares of Adobe Systems to $177.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Finally, Deutsche Bank AG lowered shares of Adobe Systems from a “buy” rating to a “hold” rating and boosted their price objective for the company from $153.93 to $160.00 in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $169.75.
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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