Adobe Systems Inc. (NASDAQ:ADBE) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued on Monday. They currently have a $105.68 target price on the software company’s stock. Vetr‘s target price would indicate a potential downside of 3.26% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Adobe Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 19th. Cowen and Company upped their price target on shares of Adobe Systems from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 21st. RBC Capital Markets reaffirmed an “outperform” rating and issued a $116.00 price target (up previously from $115.00) on shares of Adobe Systems in a research report on Thursday, September 22nd. Rosenblatt Securities upped their price target on shares of Adobe Systems from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 price target on shares of Adobe Systems in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $111.37.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.55% during trading on Monday, hitting $109.24. 1,581,880 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $104.05 and a 200-day moving average price of $98.51. Adobe Systems has a one year low of $71.27 and a one year high of $110.13. The stock has a market cap of $54.32 billion, a P/E ratio of 55.73 and a beta of 1.27.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 20th. The software company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Adobe Systems had a net margin of 17.86% and a return on equity of 15.03%. The firm earned $1.46 billion during the quarter. During the same period in the previous year, the company posted $0.54 EPS. Adobe Systems’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts expect that Adobe Systems will post $2.97 EPS for the current fiscal year.

In related news, CFO Mark Garrett sold 26,899 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $103.47, for a total transaction of $2,783,239.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John E. Warnock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $98.51, for a total transaction of $197,020.00. Following the sale, the chairman now owns 16,088 shares of the company’s stock, valued at $1,584,828.88. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several large investors have recently made changes to their positions in ADBE. BB&T Securities LLC boosted its stake in shares of Adobe Systems by 126.8% in the second quarter. BB&T Securities LLC now owns 12,934 shares of the software company’s stock worth $1,238,000 after buying an additional 7,231 shares in the last quarter. Norinchukin Bank The boosted its stake in shares of Adobe Systems by 2.6% in the second quarter. Norinchukin Bank The now owns 26,236 shares of the software company’s stock worth $2,513,000 after buying an additional 660 shares in the last quarter. National Pension Service boosted its stake in shares of Adobe Systems by 4.3% in the first quarter. National Pension Service now owns 273,210 shares of the software company’s stock worth $25,627,000 after buying an additional 11,220 shares in the last quarter. Atalanta Sosnoff Capital LLC boosted its stake in shares of Adobe Systems by 53.5% in the second quarter. Atalanta Sosnoff Capital LLC now owns 220,831 shares of the software company’s stock worth $21,153,000 after buying an additional 76,988 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its stake in shares of Adobe Systems by 16.1% in the first quarter. AMP Capital Investors Ltd now owns 328,285 shares of the software company’s stock worth $30,786,000 after buying an additional 45,577 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

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.

5 Day Chart for NASDAQ:ADBE

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