Insider Selling: Adobe Systems (ADBE) Director Sells 14,000 Shares of Stock

Adobe Systems (NASDAQ:ADBE) Director John E. Warnock sold 14,000 shares of the stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $216.53, for a total value of $3,031,420.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at approximately $3,483,534.64. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of Adobe Systems stock traded up $4.64 during trading on Tuesday, reaching $231.16. The company’s stock had a trading volume of 2,842,792 shares, compared to its average volume of 3,033,520. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 2.12. Adobe Systems has a 12-month low of $129.48 and a 12-month high of $232.21. The company has a market cap of $110,342.90, a PE ratio of 64.40, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

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Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.11. Adobe Systems had a return on equity of 24.42% and a net margin of 24.40%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned ($0.43) earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. equities research analysts anticipate that Adobe Systems will post 5.35 EPS for the current fiscal year.



Several brokerages have recently weighed in on ADBE. Zacks Investment Research lowered Adobe Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Morgan Stanley reissued an “equal weight” rating and set a $235.00 target price (up previously from $193.00) on shares of Adobe Systems in a research report on Friday, March 16th. JPMorgan Chase reissued a “neutral” rating and set a $235.00 target price (up previously from $210.00) on shares of Adobe Systems in a research report on Friday, March 16th. Credit Suisse Group raised their target price on Adobe Systems from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, March 16th. Finally, Citigroup raised their target price on Adobe Systems to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 16th. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Adobe Systems has a consensus rating of “Buy” and an average price target of $217.88.

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its position in Adobe Systems by 25.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 33,339 shares of the software company’s stock worth $5,842,000 after purchasing an additional 6,663 shares in the last quarter. Certified Advisory Corp purchased a new stake in Adobe Systems during the fourth quarter worth $180,000. Xact Kapitalforvaltning AB boosted its position in Adobe Systems by 8.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 91,821 shares of the software company’s stock worth $16,091,000 after purchasing an additional 7,059 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Adobe Systems by 2.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 227,725 shares of the software company’s stock worth $39,906,000 after purchasing an additional 6,195 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Adobe Systems by 1.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 257,118 shares of the software company’s stock worth $45,057,000 after purchasing an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.

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About Adobe Systems

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Insider Buying and Selling by Quarter for Adobe Systems (NASDAQ:ADBE)

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