Vetr lowered shares of Adobe Systems Incorporated (NASDAQ:ADBE) from a hold rating to a sell rating in a report released on Thursday. They currently have $150.30 price objective on the software company’s stock.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity restated a buy rating and set a $165.00 price objective (up from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. BidaskClub cut Adobe Systems from a strong-buy rating to a buy rating in a research note on Tuesday, June 13th. Citigroup Inc. restated a buy rating and set a $161.00 price objective (up from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Bank of America Corporation restated a buy rating and set a $184.00 price objective (up from $160.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Finally, Wunderlich restated a buy rating and set a $165.00 price objective (up from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Adobe Systems presently has an average rating of Buy and an average price target of $152.46.

Shares of Adobe Systems (NASDAQ:ADBE) traded up 0.12% during mid-day trading on Thursday, hitting $155.34. 433,124 shares of the stock were exchanged. The stock’s 50 day moving average price is $148.94 and its 200-day moving average price is $136.74. Adobe Systems has a 12-month low of $97.87 and a 12-month high of $156.06. The stock has a market capitalization of $76.65 billion, a P/E ratio of 54.11 and a beta of 1.00.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.71 EPS. The business’s revenue was up 26.7% on a year-over-year basis. On average, equities research analysts expect that Adobe Systems will post $4.06 EPS for the current fiscal year.

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In related news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.00, for a total value of $281,232.00. Following the completion of the sale, the executive vice president now owns 59,991 shares of the company’s stock, valued at approximately $8,638,704. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John E. Warnock sold 32,600 shares of Adobe Systems stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares of the company’s stock, valued at approximately $2,317,798.16. The disclosure for this sale can be found here. In the last three months, insiders sold 102,239 shares of company stock valued at $14,877,475. 0.38% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in ADBE. Clean Yield Group purchased a new stake in shares of Adobe Systems during the first quarter valued at $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Adobe Systems during the second quarter valued at $100,000. CWM LLC raised its stake in shares of Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Adobe Systems during the first quarter valued at $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the period. 87.53% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

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