John E. Warnock Sells 3,000 Shares of Adobe Systems (ADBE) Stock

Adobe Systems (NASDAQ:ADBE) Director John E. Warnock sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $223.77, for a total transaction of $671,310.00. Following the sale, the director now directly owns 16,088 shares in the company, valued at $3,600,011.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of ADBE stock traded down $2.92 on Friday, hitting $224.04. The company’s stock had a trading volume of 2,029,265 shares, compared to its average volume of 3,052,611. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.12 and a current ratio of 2.12. Adobe Systems has a fifty-two week low of $129.11 and a fifty-two week high of $231.34. The company has a market capitalization of $110,131.14, a PE ratio of 62.41, a price-to-earnings-growth ratio of 2.58 and a beta of 1.04.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 15th. The software company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.11. Adobe Systems had a net margin of 24.40% and a return on equity of 24.42%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the company posted ($0.43) earnings per share. Adobe Systems’s revenue was up 23.6% compared to the same quarter last year. analysts forecast that Adobe Systems will post 5.35 EPS for the current year.



ADBE has been the topic of several analyst reports. ValuEngine raised shares of Adobe Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Pivotal Research reaffirmed a “hold” rating and set a $162.00 price target (up from $160.00) on shares of Adobe Systems in a research report on Friday, December 15th. Sanford C. Bernstein upped their price target on shares of Adobe Systems from $208.00 to $223.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 23rd. Bank of America reaffirmed a “buy” rating and set a $269.00 price target (up from $253.00) on shares of Adobe Systems in a research report on Tuesday, March 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $220.00 price target (up from $195.00) on shares of Adobe Systems in a research report on Tuesday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $217.88.

Hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC acquired a new position in shares of Adobe Systems in the fourth quarter valued at about $118,000. Community Bank N.A. acquired a new position in shares of Adobe Systems in the fourth quarter valued at about $122,000. Avestar Capital LLC acquired a new stake in Adobe Systems during the fourth quarter worth about $109,000. Truewealth LLC acquired a new stake in Adobe Systems during the fourth quarter worth about $162,000. Finally, We Are One Seven LLC acquired a new stake in Adobe Systems during the fourth quarter worth about $173,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

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About Adobe Systems

Adobe Systems Incorporated operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. This segment's flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

Insider Buying and Selling by Quarter for Adobe Systems (NASDAQ:ADBE)

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