Adobe Systems Incorporated (NASDAQ:ADBE) Director Charles M. Geschke sold 21,276 shares of Adobe Systems stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total transaction of $3,969,037.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Adobe Systems Incorporated (ADBE) opened at $195.05 on Friday. The stock has a market cap of $96,150.00, a P/E ratio of 57.54, a PEG ratio of 2.43 and a beta of 1.05. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems Incorporated has a 52 week low of $107.06 and a 52 week high of $195.50.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 22.57%. The business’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. research analysts expect that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.

Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective on the stock in a research report on Wednesday, November 29th. Credit Suisse Group reissued a “positive” rating and set a $170.00 target price (up previously from $160.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. JPMorgan Chase & Co. reissued a “buy” rating and set a $185.00 target price on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and raised their target price for the company from $118.00 to $160.00 in a research note on Wednesday, October 18th. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Adobe Systems presently has an average rating of “Buy” and an average target price of $187.06.

Several institutional investors and hedge funds have recently made changes to their positions in ADBE. Parkside Financial Bank & Trust increased its position in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after acquiring an additional 567 shares in the last quarter. BB&T Investment Services Inc. increased its position in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares in the last quarter. Exane Derivatives increased its position in shares of Adobe Systems by 55.0% in the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Adobe Systems in the second quarter worth approximately $141,000. Finally, Acrospire Investment Management LLC increased its position in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares in the last quarter. 87.08% of the stock is currently owned by institutional investors.

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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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