Insider Selling: Adobe Systems Incorporated (ADBE) CFO Sells 54,488 Shares of Stock
Adobe Systems Incorporated (NASDAQ:ADBE) CFO Mark Garrett sold 54,488 shares of Adobe Systems stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total transaction of $10,209,961.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Adobe Systems Incorporated (NASDAQ:ADBE) traded down $2.31 during midday trading on Thursday, hitting $190.03. The company had a trading volume of 965,678 shares, compared to its average volume of 2,673,462. The stock has a market cap of $94,420.00, a PE ratio of 55.80, a price-to-earnings-growth ratio of 2.38 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22. Adobe Systems Incorporated has a 52 week low of $115.03 and a 52 week high of $204.45.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, beating the Zacks’ 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 return on equity of 22.15% and a net margin of 23.20%. Adobe Systems’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. sell-side analysts anticipate that Adobe Systems Incorporated will post 5.12 earnings per share for the current fiscal year.
Several brokerages recently commented on ADBE. Argus lifted their price target on shares of Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research downgraded Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 21st. Pivotal Research upgraded Adobe Systems from a “sell” rating to a “hold” rating and increased their price target for the stock from $118.00 to $160.00 in a research note on Wednesday, October 18th. Vetr upgraded Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price target for the company in a research note on Monday, October 23rd. Finally, Stephens reiterated a “buy” rating and set a $210.00 price target on shares of Adobe Systems in a research note on Wednesday, January 3rd. 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 company’s stock. The stock has an average rating of “Buy” and a consensus target price of $197.79.
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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