Insider Selling: Adobe Systems Incorporated (ADBE) EVP Sells 18,079 Shares of Stock

Adobe Systems Incorporated (NASDAQ:ADBE) EVP Michael A. Dillon sold 18,079 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $194.26, for a total value of $3,512,026.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Adobe Systems Incorporated (ADBE) traded down $2.13 during trading hours on Wednesday, hitting $192.34. 2,941,594 shares of the company were exchanged, compared to its average volume of 2,530,000. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market cap of $94,810.00, a PE ratio of 56.74, a PEG ratio of 2.32 and a beta of 1.18. Adobe Systems Incorporated has a 52 week low of $114.45 and a 52 week high of $204.45.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.15%. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. sell-side analysts anticipate that Adobe Systems Incorporated will post 5.12 EPS for the current year.

Several brokerages have recently commented on ADBE. Argus raised their target price on Adobe Systems from $195.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Evercore ISI restated a “buy” rating and issued a $220.00 target price on shares of Adobe Systems in a research note on Friday, January 26th. Guggenheim reaffirmed a “buy” rating and issued a $230.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Stephens reaffirmed a “buy” rating and issued a $215.00 price target on shares of Adobe Systems in a research report on Tuesday, January 23rd. Finally, Royal Bank of Canada raised their price target on shares of Adobe Systems to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, January 23rd. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $197.79.

Large investors have recently bought and sold shares of the stock. Bender Robert & Associates bought a new stake in shares of Adobe Systems in the 3rd quarter worth approximately $3,476,000. Grove Bank & Trust raised its holdings in shares of Adobe Systems by 14.9% in the 3rd quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after purchasing an additional 591 shares during the period. Bluestein R H & Co. bought a new stake in shares of Adobe Systems in the 3rd quarter worth approximately $2,812,000. Great West Life Assurance Co. Can raised its holdings in shares of Adobe Systems by 13.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 517,173 shares of the software company’s stock worth $76,120,000 after purchasing an additional 59,670 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Adobe Systems by 12.1% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 770,857 shares of the software company’s stock worth $114,996,000 after purchasing an additional 83,265 shares during the period. 87.19% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/07/insider-selling-adobe-systems-incorporated-adbe-evp-sells-18079-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Adobe Systems (NASDAQ:ADBE)

Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply