Traders Sell Adobe Systems Incorporated (ADBE) on Strength (ADBE)
Investors sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading on Thursday. $510.25 million flowed into the stock on the tick-up and $551.18 million flowed out of the stock on the tick-down, for a money net flow of $40.93 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 $18.73 for the day and closed at $171.73
Several equities analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $175.00 price target (up previously from $163.00) on shares of Adobe Systems in a research report on Thursday. Deutsche Bank AG cut shares of Adobe Systems from a “buy” rating to a “hold” rating and boosted their price target for the company from $153.93 to $160.00 in a research report on Monday, October 16th. Citigroup Inc. boosted their price target on shares of Adobe Systems from $163.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday. Credit Suisse Group reiterated an “outperform” rating and set a $190.00 price target (up previously from $170.00) on shares of Adobe Systems in a research report on Thursday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $187.00 price target (up previously from $165.00) on shares of Adobe Systems in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $168.59.
The company has a market capitalization of $86.58 billion, a P/E ratio of 55.22 and a beta of 0.98. The firm’s 50-day moving average is $153.06 and its 200-day moving average is $144.36.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.09. Adobe Systems had a net margin of 23.06% and a return on equity of 21.40%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Adobe Systems’s quarterly revenue was up 25.8% on a year-over-year basis. Equities analysts predict that Adobe Systems Incorporated will post $4.22 EPS for the current fiscal year.
In related news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total value of $304,433.64. Following the completion of the sale, the executive vice president now owns 56,356 shares of the company’s stock, valued at $8,784,773.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,859 shares of company stock valued at $887,931 in the last three months. 0.38% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ADBE. Waldron LP boosted its stake in Adobe Systems by 96.9% during the first quarter. Waldron LP now owns 5,487 shares of the software company’s stock worth $689,000 after buying an additional 2,701 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Adobe Systems by 257.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,227 shares of the software company’s stock worth $420,000 after buying an additional 2,325 shares during the period. Martingale Asset Management L P boosted its stake in Adobe Systems by 106.4% during the first quarter. Martingale Asset Management L P now owns 266,648 shares of the software company’s stock worth $34,700,000 after buying an additional 137,430 shares during the period. Independent Advisor Alliance boosted its stake in Adobe Systems by 14.7% during the first quarter. Independent Advisor Alliance now owns 9,615 shares of the software company’s stock worth $1,249,000 after buying an additional 1,229 shares during the period. Finally, Fagan Associates Inc. boosted its stake in Adobe Systems by 46.8% during the first quarter. Fagan Associates Inc. now owns 9,255 shares of the software company’s stock worth $1,204,000 after buying an additional 2,950 shares during the period. 87.49% of the stock is owned by institutional investors.
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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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