Adobe Systems Incorporated (NASDAQ:ADBE) EVP Ann Lewnes sold 2,940 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $223.86, for a total transaction of $658,148.40. Following the sale, the executive vice president now owns 76,201 shares in the company, valued at approximately $17,058,355.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Adobe Systems Incorporated (ADBE) traded up $1.33 during trading hours on Friday, reaching $221.85. 2,310,064 shares of the company traded hands, compared to its average volume of 2,924,982. The firm has a market cap of $111,912.70, a PE ratio of 59.10, a P/E/G ratio of 2.62 and a beta of 1.10. Adobe Systems Incorporated has a 1 year low of $126.36 and a 1 year high of $231.34. The company has a current ratio of 2.12, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22.
Adobe Systems (NASDAQ:ADBE) last released its earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.11. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. research analysts forecast that Adobe Systems Incorporated will post 5.35 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on ADBE shares. Cowen restated a “buy” rating and set a $200.00 price target on shares of Adobe Systems in a report on Monday, December 11th. Pivotal Research restated a “hold” rating and set a $162.00 price target (up previously from $160.00) on shares of Adobe Systems in a report on Friday, December 15th. Vetr upgraded shares of Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price target on the stock in a report on Tuesday, December 5th. Sanford C. Bernstein boosted their price target on shares of Adobe Systems from $208.00 to $223.00 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. Finally, Bank of America restated a “buy” rating and set a $269.00 price target (up previously from $253.00) on shares of Adobe Systems in a report on Tuesday, March 13th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $214.06.
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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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