Investors Sell Adobe Systems (ADBE) on Strength (ADBE)

Investors sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading hours on Tuesday. $119.24 million flowed into the stock on the tick-up and $153.43 million flowed out of the stock on the tick-down, for a money net flow of $34.19 million out of the stock. Of all stocks tracked, Adobe Systems had the 0th highest net out-flow for the day. Adobe Systems traded up $3.75 for the day and closed at $267.84

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Adobe Systems from $278.00 to $292.00 in a report on Friday, June 15th. BidaskClub cut shares of Adobe Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research raised shares of Adobe Systems from a “hold” rating to a “buy” rating and set a $286.00 price target on the stock in a report on Tuesday, June 19th. Stifel Nicolaus increased their price target on shares of Adobe Systems from $250.00 to $275.00 and gave the company a “buy” rating in a report on Friday, June 15th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $280.00 price target (up from $245.00) on shares of Adobe Systems in a report on Friday, June 15th. Nine research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $261.38.

The firm has a market capitalization of $131.15 billion, a P/E ratio of 74.78, a P/E/G ratio of 2.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 1.66.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, September 13th. The software company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Adobe Systems had a net margin of 28.16% and a return on equity of 29.51%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. equities analysts predict that Adobe Systems Incorporated will post 5.65 EPS for the current fiscal year.

In related news, EVP Ann Lewnes sold 2,939 shares of Adobe Systems stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $253.80, for a total value of $745,918.20. Following the transaction, the executive vice president now directly owns 61,498 shares of the company’s stock, valued at $15,608,192.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abhay Parasnis sold 10,500 shares of Adobe Systems stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $260.01, for a total transaction of $2,730,105.00. The disclosure for this sale can be found here. Insiders have sold 19,320 shares of company stock worth $5,031,554 over the last ninety days. Insiders own 0.33% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Rockland Trust Co. bought a new position in Adobe Systems in the second quarter valued at approximately $700,000. Creative Planning increased its stake in Adobe Systems by 53.5% in the second quarter. Creative Planning now owns 41,801 shares of the software company’s stock valued at $10,191,000 after acquiring an additional 14,574 shares during the last quarter. Bogart Wealth LLC bought a new position in Adobe Systems in the second quarter valued at approximately $352,000. TCI Wealth Advisors Inc. increased its stake in Adobe Systems by 207.1% in the second quarter. TCI Wealth Advisors Inc. now owns 1,044 shares of the software company’s stock valued at $255,000 after acquiring an additional 704 shares during the last quarter. Finally, Excalibur Management Corp bought a new position in Adobe Systems in the second quarter valued at approximately $217,000. 84.72% of the stock is currently owned by institutional investors and hedge funds.

About Adobe Systems (NASDAQ:ADBE)

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. Its flagship product is Creative Cloud, a subscription service that allows customers to download and install the latest versions of its creative products.

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