Robert K. Burgess Sells 25,000 Shares of Adobe Systems Incorporated (ADBE) Stock

Adobe Systems Incorporated (NASDAQ:ADBE) Director Robert K. Burgess sold 25,000 shares of Adobe Systems stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $175.39, for a total value of $4,384,750.00. Following the completion of the sale, the director now directly owns 12,375 shares in the company, valued at $2,170,451.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Adobe Systems Incorporated (ADBE) opened at $177.70 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $87,600.00, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 2.25 and a beta of 1.05. Adobe Systems Incorporated has a twelve month low of $102.81 and a twelve month high of $186.27.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.10. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. equities analysts forecast that Adobe Systems Incorporated will post 4.58 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its holdings in shares of Adobe Systems by 170.3% during the 3rd 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 during the last quarter. BB&T Investment Services Inc. lifted its holdings in shares of Adobe Systems by 42.4% during the 3rd quarter. BB&T Investment Services Inc. now owns 923 shares of the software company’s stock valued at $138,000 after purchasing an additional 275 shares during the last quarter. Exane Derivatives lifted its holdings in shares of Adobe Systems by 55.0% during the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock valued at $143,000 after purchasing an additional 340 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Adobe Systems during the 2nd quarter valued at $141,000. Finally, Acrospire Investment Management LLC lifted its holdings in shares of Adobe Systems by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the software company’s stock valued at $141,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 87.08% of the company’s stock.

Several brokerages have weighed in on ADBE. Citigroup boosted their price objective on Adobe Systems from $163.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Vetr raised Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 price objective on the stock in a research note on Wednesday, November 29th. Credit Suisse Group reissued a “positive” rating and set 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 set a $185.00 price objective on shares of Adobe Systems in a research note on Thursday, October 19th. Finally, Pivotal Research raised Adobe Systems from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $118.00 to $160.00 in a research note on Wednesday, October 18th. Eight research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $186.27.

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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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