Traders Sell Adobe Systems Incorporated (ADBE) on Strength on Insider Traded

Traders Sell Adobe Systems Incorporated (ADBE) on Strength on Insider Traded

Traders sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading hours on Friday following insider selling activity. $37.98 million flowed into the stock on the tick-up and $76.83 million flowed out of the stock on the tick-down, for a money net flow of $38.85 million out of the stock. Of all companies tracked, Adobe Systems had the 0th highest net out-flow for the day. Adobe Systems traded up $0.52 for the day and closed at $130.13Specifically, Chairman Charles M. Geschke sold 48,100 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total transaction of $5,003,843.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bryan Lamkin sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was sold at an average price of $130.30, for a total transaction of $2,606,000.00. Following the transaction, the executive vice president now owns 52,083 shares of the company’s stock, valued at approximately $6,786,414.90. The disclosure for this sale can be found here. Insiders have sold a total of 478,673 shares of company stock valued at $54,891,286 in the last quarter. 0.43% of the stock is currently owned by company insiders.

ADBE has been the subject of several research analyst reports. BTIG Research restated a “neutral” rating on shares of Adobe Systems in a report on Tuesday, December 6th. Cowen and Company set a $120.00 target price on shares of Adobe Systems and gave the company a “buy” rating in a report on Wednesday, December 7th. Wunderlich restated a “hold” rating and issued a $115.00 target price on shares of Adobe Systems in a report on Friday, December 16th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $124.00 target price on shares of Adobe Systems in a report on Friday, December 16th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $124.00 target price on shares of Adobe Systems in a report on Friday, December 16th. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $131.54.

The stock has a market capitalization of $64.37 billion, a P/E ratio of 49.69 and a beta of 1.06. The company has a 50-day moving average price of $122.23 and a 200 day moving average price of $110.85.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 16th. The software company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Adobe Systems had a return on equity of 17.23% and a net margin of 19.96%. Adobe Systems’s revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. Analysts expect that Adobe Systems Incorporated will post $3.95 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of ADBE. Savant Capital LLC boosted its position in shares of Adobe Systems by 0.3% in the third quarter. Savant Capital LLC now owns 3,455 shares of the software company’s stock worth $375,000 after buying an additional 10 shares in the last quarter. Bailard Inc. boosted its position in shares of Adobe Systems by 0.9% in the third quarter. Bailard Inc. now owns 2,228 shares of the software company’s stock worth $242,000 after buying an additional 20 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Adobe Systems by 0.5% in the third quarter. HBK Sorce Advisory LLC now owns 4,788 shares of the software company’s stock worth $520,000 after buying an additional 25 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Adobe Systems by 1.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,959 shares of the software company’s stock worth $355,000 after buying an additional 29 shares in the last quarter. Finally, Alpha Windward LLC boosted its position in shares of Adobe Systems by 2.4% in the third quarter. Alpha Windward LLC now owns 1,605 shares of the software company’s stock worth $174,000 after buying an additional 38 shares in the last quarter. 87.25% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Systems Company Profile

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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