Traders Buy Adobe Systems (ADBE) on Weakness
Investors bought shares of Adobe Systems Incorporated (NASDAQ:ADBE) on weakness during trading on Friday. $118.78 million flowed into the stock on the tick-up and $61.86 million flowed out of the stock on the tick-down, for a money net flow of $56.92 million into the stock. Of all equities tracked, Adobe Systems had the 21st highest net in-flow for the day. Adobe Systems traded down ($0.47) for the day and closed at $195.73
Several research firms have commented on ADBE. Vetr cut shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $199.00 target price on the stock. in a research note on Monday. BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Stephens reissued a “buy” rating and set a $210.00 target price on shares of Adobe Systems in a research note on Wednesday, January 3rd. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Robert W. Baird reissued a “buy” rating and set a $200.00 target price on shares of Adobe Systems in a research note on Friday, December 15th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $187.00.
The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a market cap of $96,480.00, a PE ratio of 57.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.05.
In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the completion of the transaction, the executive vice president now owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,972 shares of company stock valued at $14,613,967. Corporate insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ADBE. Parkside Financial Bank & Trust boosted its holdings in shares of Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock worth $135,000 after buying an additional 567 shares during the period. BB&T Investment Services Inc. boosted its holdings in shares of Adobe Systems by 42.4% in the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after buying an additional 275 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Adobe Systems in the second quarter worth about $141,000. Acrospire Investment Management LLC boosted its holdings in shares of Adobe Systems by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after buying an additional 500 shares during the period. Finally, CWH Capital Management Inc. acquired a new position in shares of Adobe Systems in the second quarter worth about $141,000. Institutional investors own 87.08% of the company’s stock.
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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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