Adobe Systems Incorporated (NASDAQ:ADBE) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Thursday. They currently have a $150.30 price target on the software company’s stock. Vetr‘s price objective would indicate a potential downside of 3.13% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. BidaskClub lowered shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Citigroup Inc. reiterated a “buy” rating and set a $161.00 target price (up from $141.00) on shares of Adobe Systems in a research report on Tuesday, June 13th. Bank of America Corporation reiterated a “buy” rating and set a $184.00 target price (up from $160.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Finally, Wunderlich reiterated a “buy” rating and set a $165.00 target price (up from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and an average price target of $152.46.

Adobe Systems (NASDAQ:ADBE) traded up 0.97% during midday trading on Thursday, hitting $155.16. The stock had a trading volume of 1,895,007 shares. The company has a market cap of $76.56 billion, a PE ratio of 54.04 and a beta of 1.00. Adobe Systems has a 52 week low of $97.87 and a 52 week high of $155.36. The stock’s 50 day moving average price is $148.94 and its 200-day moving average price is $136.74.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Equities research analysts predict that Adobe Systems will post $4.06 earnings per share for the current year.

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In related news, EVP Abhay Parasnis sold 12,500 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $149.38, for a total transaction of $1,867,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total transaction of $281,232.00. Following the transaction, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The disclosure for this sale can be found here. Insiders have sold 102,239 shares of company stock valued at $14,877,475 in the last three months. 0.38% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ADBE. Intl Fcstone Inc. acquired a new position in shares of Adobe Systems during the second quarter valued at approximately $305,000. USA Financial Portformulas Corp acquired a new position in shares of Adobe Systems during the second quarter valued at approximately $6,210,000. WFG Advisors LP boosted its position in shares of Adobe Systems by 5.9% in the second quarter. WFG Advisors LP now owns 1,338 shares of the software company’s stock valued at $189,000 after buying an additional 75 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Adobe Systems by 25.2% in the second quarter. Toronto Dominion Bank now owns 167,867 shares of the software company’s stock valued at $23,739,000 after buying an additional 33,814 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Adobe Systems during the second quarter valued at approximately $275,000. Institutional investors and hedge funds own 87.53% 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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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