Adobe Systems Incorporated (ADBE) CMO Ann Lewnes Sells 1,953 Shares
Adobe Systems Incorporated (NASDAQ:ADBE) CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Ann Lewnes also recently made the following trade(s):
- On Wednesday, July 12th, Ann Lewnes sold 1,953 shares of Adobe Systems stock. The stock was sold at an average price of $144.00, for a total value of $281,232.00.
- On Wednesday, June 14th, Ann Lewnes sold 2,233 shares of Adobe Systems stock. The stock was sold at an average price of $139.29, for a total value of $311,034.57.
Adobe Systems Incorporated (NASDAQ:ADBE) traded up 0.37% during trading on Wednesday, reaching $148.35. The company’s stock had a trading volume of 1,177,923 shares. The firm has a market cap of $73.20 billion, a PE ratio of 51.67 and a beta of 1.00. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $150.40. The company has a 50-day moving average of $144.91 and a 200 day moving average of $131.74.
Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.07. Adobe Systems had a net margin of 22.11% and a return on equity of 20.06%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts expect that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.
Several brokerages recently issued reports on ADBE. Royal Bank Of Canada reaffirmed a “buy” rating and set a $157.00 target price on shares of Adobe Systems in a research report on Monday, July 31st. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Pacific Crest raised their target price on Adobe Systems from $142.00 to $174.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Pivotal Research reaffirmed a “sell” rating and set a $114.00 target price (up from $112.00) on shares of Adobe Systems in a research report on Wednesday, June 21st. Finally, Deutsche Bank AG raised their target price on Adobe Systems from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $153.20.
Several institutional investors have recently made changes to their positions in ADBE. CENTRAL TRUST Co increased its position in shares of Adobe Systems by 3.1% in the first quarter. CENTRAL TRUST Co now owns 3,812 shares of the software company’s stock worth $496,000 after buying an additional 114 shares in the last quarter. Sheets Smith Wealth Management increased its stake in shares of Adobe Systems by 0.4% in the first quarter. Sheets Smith Wealth Management now owns 9,764 shares of the software company’s stock valued at $1,271,000 after buying an additional 38 shares during the period. Dynamic Advisors Solutions LLC purchased a new stake in shares of Adobe Systems during the first quarter valued at $435,000. Vontobel Asset Management Inc. purchased a new stake in shares of Adobe Systems during the first quarter valued at $17,140,000. Finally, Koshinski Asset Management Inc. increased its stake in shares of Adobe Systems by 85.6% in the first quarter. Koshinski Asset Management Inc. now owns 18,560 shares of the software company’s stock valued at $2,415,000 after buying an additional 8,558 shares during the period. 88.05% of the stock is owned by institutional investors and hedge funds.
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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