ADBE has been the topic of a number of other reports. Citigroup lifted their price objective on shares of Adobe Systems from $163.00 to $177.00 and gave the company a buy rating in a research note on Thursday, October 19th. Credit Suisse Group reissued a positive rating and issued a $170.00 price objective (up from $160.00) on shares of Adobe Systems in a research note on Wednesday, September 20th. JPMorgan Chase & Co. reissued a buy rating and issued a $185.00 price objective on shares of Adobe Systems in a research note on Thursday, October 19th. Pivotal Research raised shares of Adobe Systems from a sell rating to a hold rating and lifted their price objective for the company from $118.00 to $160.00 in a research note on Wednesday, October 18th. Finally, KeyCorp reissued an overweight rating and issued a $216.00 price objective (up from $178.00) on shares of Adobe Systems in a research note on Wednesday, November 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $187.00.
Adobe Systems (ADBE) opened at $196.49 on Monday. The stock has a market cap of $96,860.00, a P/E ratio of 57.96, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.05 and a quick ratio of 2.05. Adobe Systems has a one year low of $107.53 and a one year high of $198.21.
In related news, Director Charles M. Geschke sold 21,276 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $186.55, for a total value of $3,969,037.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John E. Warnock sold 6,800 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $174.20, for a total transaction of $1,184,560.00. Following the completion of the transaction, the director now owns 16,088 shares in the company, valued at approximately $2,802,529.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,772 shares of company stock worth $15,798,527. 0.38% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its stake in Adobe Systems by 170.3% in the third quarter. Parkside Financial Bank & Trust now owns 900 shares of the software company’s stock valued at $135,000 after purchasing an additional 567 shares in the last quarter. BB&T Investment Services Inc. increased its position in shares of Adobe Systems by 42.4% during the third quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock worth $138,000 after acquiring an additional 275 shares in the last quarter. Exane Derivatives increased its position in shares of Adobe Systems by 55.0% during the third quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Adobe Systems during the second quarter worth about $141,000. Finally, Acrospire Investment Management LLC increased its position in shares of Adobe Systems by 100.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock worth $141,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.08% 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.
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