Investors Sell Shares of Adobe Systems (ADBE) on Strength (ADBE)
Investors sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading on Wednesday. $61.04 million flowed into the stock on the tick-up and $85.32 million flowed out of the stock on the tick-down, for a money net flow of $24.28 million out of the stock. Of all equities tracked, Adobe Systems had the 33rd highest net out-flow for the day. Adobe Systems traded up $0.41 for the day and closed at $187.11
Several equities analysts have issued reports on ADBE shares. 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 report on Wednesday, October 25th. Zacks Investment Research lowered shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 21st. Pivotal Research raised shares of Adobe Systems from a “sell” rating to a “hold” rating and lifted their price target for the stock from $118.00 to $160.00 in a report on Wednesday, October 18th. Vetr raised shares of Adobe Systems from a “strong sell” rating to a “sell” rating and set a $163.12 price target on the stock in a report on Monday, October 23rd. Finally, Citigroup boosted their price objective on shares of Adobe Systems to $202.00 and gave the company a “buy” rating in a report on Friday, December 15th. Eight 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 currently has an average rating of “Buy” and a consensus price target of $187.06.
The company has a market capitalization of $96,150.00, a PE ratio of 57.54, a PEG ratio of 2.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05.
Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. analysts anticipate that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.
In other Adobe Systems news, Director Charles M. Geschke sold 21,276 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total value of $3,969,037.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Burgess sold 25,000 shares of the company’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $175.39, for a total transaction of $4,384,750.00. Following the completion of the transaction, the director now owns 12,375 shares of the company’s stock, valued at approximately $2,170,451.25. The disclosure for this sale can be found here. Insiders have sold 88,772 shares of company stock valued at $15,798,527 over the last 90 days. 0.38% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Bender Robert & Associates acquired a new position in shares of Adobe Systems in the third quarter worth about $3,476,000. Grove Bank & Trust raised its position in shares of Adobe Systems by 14.9% in the third quarter. Grove Bank & Trust now owns 4,546 shares of the software company’s stock worth $678,000 after acquiring an additional 591 shares during the period. Clinton Group Inc. acquired a new position in shares of Adobe Systems in the second quarter worth about $411,000. Bluestein R H & Co. acquired a new position in shares of Adobe Systems in the third quarter worth about $2,812,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Adobe Systems by 17.9% in the second quarter. Oppenheimer & Co. Inc. now owns 10,680 shares of the software company’s stock worth $1,511,000 after acquiring an additional 1,622 shares during the period. Institutional investors and hedge funds own 87.08% of the company’s stock.
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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