Adobe Systems (NASDAQ:ADBE) Director John E. Warnock sold 3,000 shares of Adobe Systems stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $223.77, for a total transaction of $671,310.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at $3,600,011.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of NASDAQ ADBE opened at $224.06 on Friday. The company has a market capitalization of $111,771.06, a PE ratio of 62.41, a PEG ratio of 2.62 and a beta of 1.04. Adobe Systems has a 52-week low of $129.11 and a 52-week high of $231.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12.
Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.11. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.43) EPS. equities research analysts expect that Adobe Systems will post 5.35 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cerebellum GP LLC acquired a new position in shares of Adobe Systems during the 4th quarter valued at $118,000. Community Bank N.A. acquired a new position in shares of Adobe Systems during the 4th quarter valued at $122,000. Avestar Capital LLC acquired a new position in shares of Adobe Systems during the 4th quarter valued at $109,000. Truewealth LLC acquired a new position in shares of Adobe Systems during the 4th quarter valued at $162,000. Finally, We Are One Seven LLC acquired a new position in shares of Adobe Systems during the 4th quarter valued at $173,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Several brokerages recently issued reports on ADBE. ValuEngine raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. JMP Securities lowered shares of Adobe Systems from an “outperform” rating to a “market perform” rating in a report on Monday, March 26th. Zacks Investment Research lowered shares of Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. DZ Bank raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Finally, Citigroup boosted their target price on shares of Adobe Systems to $250.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $217.88.
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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.
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