Traders sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading hours on Friday after an insider sold shares in the company. $64.43 million flowed into the stock on the tick-up and $107.89 million flowed out of the stock on the tick-down, for a money net flow of $43.46 million out of the stock. Of all stocks tracked, Adobe Systems had the 0th highest net out-flow for the day. Adobe Systems traded up $0.32 for the day and closed at $153.93Specifically, EVP Abhay Parasnis sold 12,500 shares of Adobe Systems stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $149.38, for a total value of $1,867,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total transaction of $286,466.04. The disclosure for this sale can be found here. Insiders have sold 28,359 shares of company stock valued at $4,255,181 in the last three months. 0.38% of the stock is owned by insiders.

A number of equities research analysts have commented on ADBE shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $160.00 target price (up previously from $140.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Vetr downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 target price for the company. in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Adobe Systems in a research report on Monday, June 26th. Moffett Nathanson started coverage on shares of Adobe Systems in a research report on Wednesday, September 6th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Wunderlich reaffirmed a “buy” rating and issued a $165.00 target price (up previously from $145.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $158.16.

The firm has a 50 day moving average price of $152.02 and a 200-day moving average price of $143.37. The firm has a market cap of $75.88 billion, a PE ratio of 48.39 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.82 billion. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. Analysts anticipate that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. 1ST Source Bank lifted its stake in shares of Adobe Systems by 0.3% in the second quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of Adobe Systems by 0.6% in the second quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after buying an additional 16 shares in the last quarter. Finally, Bank of Stockton lifted its stake in shares of Adobe Systems by 0.4% in the second quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after buying an additional 20 shares in the last quarter. 87.51% of the stock is currently owned by hedge funds and other 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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