Adobe Systems Incorporated (ADBE) EVP Ann Lewnes Sells 2,233 Shares of Stock

Adobe Systems Incorporated (NASDAQ:ADBE) EVP Ann Lewnes sold 2,233 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total transaction of $311,034.57. Following the completion of the transaction, the executive vice president now directly owns 61,944 shares of the company’s stock, valued at approximately $8,628,179.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ann Lewnes also recently made the following trade(s):

  • On Wednesday, May 10th, Ann Lewnes sold 2,233 shares of Adobe Systems stock. The shares were sold at an average price of $135.86, for a total transaction of $303,375.38.
  • On Wednesday, April 12th, Ann Lewnes sold 2,233 shares of Adobe Systems stock. The shares were sold at an average price of $129.96, for a total transaction of $290,200.68.
  • On Wednesday, March 22nd, Ann Lewnes sold 2,233 shares of Adobe Systems stock. The shares were sold at an average price of $125.00, for a total transaction of $279,125.00.

Adobe Systems Incorporated (ADBE) traded up 0.23% during trading on Friday, reaching $137.84. 4,205,798 shares of the company’s stock traded hands. Adobe Systems Incorporated has a 12-month low of $90.35 and a 12-month high of $144.34. The company has a 50 day moving average price of $138.38 and a 200-day moving average price of $122.20. The company has a market cap of $68.19 billion, a PE ratio of 52.63 and a beta of 0.98. Adobe Systems also was the target of some unusual options trading activity on Thursday. Investors acquired 2,564 call options on the company. This represents an increase of 559% compared to the average volume of 389 call options.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 16th. The software company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. Adobe Systems had a net margin of 21.34% and a return on equity of 18.69%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned $0.66 EPS. The company’s revenue was up 21.6% on a year-over-year basis. On average, equities research analysts forecast that Adobe Systems Incorporated will post $3.95 EPS for the current fiscal year.

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

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Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Adobe Systems by 0.4% in the first quarter. FMR LLC now owns 33,995,506 shares of the software company’s stock worth $4,423,835,000 after buying an additional 139,986 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Adobe Systems by 2.9% in the first quarter. Vanguard Group Inc. now owns 33,055,251 shares of the software company’s stock worth $4,301,480,000 after buying an additional 937,118 shares during the last quarter. BlackRock Inc. raised its stake in shares of Adobe Systems by 1,894.1% in the first quarter. BlackRock Inc. now owns 31,823,942 shares of the software company’s stock worth $4,141,250,000 after buying an additional 30,228,013 shares during the last quarter. State Street Corp raised its stake in shares of Adobe Systems by 1.2% in the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock worth $2,539,679,000 after buying an additional 234,270 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of Adobe Systems by 4.0% in the fourth quarter. Janus Capital Management LLC now owns 14,281,223 shares of the software company’s stock worth $1,470,479,000 after buying an additional 550,041 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $137.00 price target on shares of Adobe Systems in a report on Friday. BidaskClub downgraded shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and issued a $161.00 price target (up previously from $141.00) on shares of Adobe Systems in a report on Tuesday. Pivotal Research downgraded shares of Adobe Systems from a “hold” rating to a “sell” rating and increased their price target for the company from $109.00 to $112.00 in a report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.51.

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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