Investors Buy Shares of Adobe Systems Incorporated (ADBE) on Weakness on Insider Selling

Investors purchased shares of Adobe Systems Incorporated (NASDAQ:ADBE) on weakness during trading hours on Thursday following insider selling activity. $98.77 million flowed into the stock on the tick-up and $59.48 million flowed out of the stock on the tick-down, for a money net flow of $39.29 million into the stock. Of all equities tracked, Adobe Systems had the 29th highest net in-flow for the day. Adobe Systems traded down ($0.04) for the day and closed at $153.61Specifically, EVP Donna Morris sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,359 shares of company stock valued at $4,255,181. Corporate insiders own 0.38% of the company’s stock.

ADBE has been the subject of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $160.00 price target (up previously from $140.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Vetr downgraded Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price target for the company. in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Adobe Systems in a research note on Monday, June 26th. Moffett Nathanson assumed coverage on Adobe Systems in a research note on Wednesday, September 6th. They set a “buy” rating and a $195.00 price target for the company. Finally, Wunderlich restated a “buy” rating and issued a $165.00 target price (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $158.16.

The firm has a 50 day moving average price of $151.92 and a 200-day moving average price of $143.08. The firm has a market cap of $75.72 billion, a PE ratio of 48.29 and a beta of 0.98.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.82 billion. During the same period last year, the business earned $0.75 earnings per share. Adobe Systems’s revenue was up 25.8% compared to the same quarter last year. Analysts anticipate that Adobe Systems Incorporated will post $4.22 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its position in shares of Adobe Systems by 4.9% during the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after acquiring an additional 1,651,762 shares during the last quarter. BlackRock Inc. increased its position in shares of Adobe Systems by 8.2% during the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after acquiring an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Adobe Systems by 2.9% during the second quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after acquiring an additional 943,487 shares during the last quarter. State Street Corp increased its position in shares of Adobe Systems by 1.2% during the first quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock valued at $2,539,679,000 after acquiring an additional 234,270 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Adobe Systems by 784.4% during the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after acquiring an additional 9,957,241 shares during the last quarter. Institutional investors and hedge funds own 87.51% 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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