Adobe Systems (NASDAQ:ADBE) had its price objective raised by Stifel Nicolaus from $210.00 to $230.00 in a report issued on Monday, MarketBeat reports. The brokerage currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target points to a potential upside of 4.10% from the stock’s previous close.
Several other equities analysts have also weighed in on the stock. KeyCorp restated an “overweight” rating and set a $225.00 target price (up previously from $220.00) on shares of Adobe Systems in a report on Tuesday, January 23rd. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price on the stock in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Guggenheim restated a “buy” rating and set a $230.00 target price on shares of Adobe Systems in a report on Tuesday, January 23rd. Finally, BidaskClub upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems has an average rating of “Buy” and a consensus target price of $199.82.
Shares of Adobe Systems (NASDAQ ADBE) traded down $0.17 on Monday, hitting $220.94. 3,173,957 shares of the company’s stock were exchanged, compared to its average volume of 2,650,000. The firm has a market cap of $109,000.00, a price-to-earnings ratio of 65.37, a PEG ratio of 2.70 and a beta of 1.10. Adobe Systems has a 52 week low of $120.24 and a 52 week high of $223.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.05 and a current ratio of 2.05.
In other news, EVP Michael A. Dillon sold 18,079 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse bought 1,125 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was bought at an average cost of $177.35 per share, with a total value of $199,518.75. Following the transaction, the director now directly owns 31,453 shares in the company, valued at approximately $5,578,189.55. The disclosure for this purchase can be found here. Insiders sold a total of 351,199 shares of company stock valued at $67,326,422 in the last three months. Insiders own 0.33% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of Adobe Systems during the 4th quarter valued at about $118,000. Community Bank N.A. bought a new stake in shares of Adobe Systems during the 4th quarter valued at about $122,000. Avestar Capital LLC bought a new stake in shares of Adobe Systems during the 4th quarter valued at about $109,000. BB&T Investment Services Inc. grew its position in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after buying an additional 275 shares during the last quarter. Finally, Truewealth LLC bought a new stake in shares of Adobe Systems during the 4th quarter valued at about $162,000. 87.06% of the stock is owned by institutional investors.
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.
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