Adobe Systems Incorporated (ADBE) Director Sells $802,930.00 in Stock

Adobe Systems Incorporated (NASDAQ:ADBE) Director John E. Warnock sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $174.55, for a total value of $802,930.00. Following the completion of the transaction, the director now directly owns 16,088 shares in the company, valued at $2,808,160.40. The transaction was disclosed in a filing with the SEC, which is available at this link.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up $0.44 during trading hours on Friday, hitting $175.00. 1,702,626 shares of the stock traded hands, compared to its average volume of 2,489,318. Adobe Systems Incorporated has a 1-year low of $102.47 and a 1-year high of $186.27. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $86,050.00, a P/E ratio of 51.62, a P/E/G ratio of 2.24 and a beta of 1.05.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.10. Adobe Systems had a net margin of 23.20% and a return on equity of 22.57%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. research analysts forecast that Adobe Systems Incorporated will post 4.58 earnings per share for the current fiscal year.

A number of brokerages have issued reports on ADBE. Barclays increased their price target on Adobe Systems to $193.00 and gave the stock an “overweight” rating in a research note on Friday, December 15th. Oppenheimer reissued a “hold” rating on shares of Adobe Systems in a report on Friday, December 15th. Jefferies Group lifted their price objective on shares of Adobe Systems to $205.00 and gave the company a “buy” rating in a report on Friday, December 15th. JMP Securities lifted their price objective on shares of Adobe Systems from $170.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 15th. Finally, Pivotal Research reissued a “hold” rating and set a $162.00 price objective (up from $160.00) on shares of Adobe Systems in a report on Friday, December 15th. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Adobe Systems has an average rating of “Buy” and an average price target of $186.27.

Several large investors have recently bought and sold shares of ADBE. Janus Henderson Group PLC lifted its stake in shares of Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the period. BlackRock Inc. lifted its position in Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after buying an additional 2,621,275 shares in the last quarter. FMR LLC lifted its position in Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after buying an additional 1,651,762 shares in the last quarter. Polen Capital Management LLC lifted its position in Adobe Systems by 31.5% during the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock valued at $857,484,000 after buying an additional 1,452,892 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Adobe Systems by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock valued at $542,237,000 after buying an additional 1,190,108 shares in the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.

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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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