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

Traders sold shares of Adobe Systems Incorporated (NASDAQ:ADBE) on strength during trading hours on Tuesday. $115.67 million flowed into the stock on the tick-up and $143.87 million flowed out of the stock on the tick-down, for a money net flow of $28.20 million out of the stock. Of all companies tracked, Adobe Systems had the 16th highest net out-flow for the day. Adobe Systems traded up $1.42 for the day and closed at $202.98

ADBE has been the topic of several analyst reports. Zacks Investment Research raised Adobe Systems from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research report on Monday, December 4th. Cowen reaffirmed a “buy” rating and issued a $200.00 target price on shares of Adobe Systems in a research report on Monday, December 11th. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Argus increased their price target on Adobe Systems from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Vetr raised Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price target for the company in a research note on Monday, November 13th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $198.15.

The company has a market cap of $99,780.00, a P/E ratio of 59.88, a price-to-earnings-growth ratio of 2.46 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Adobe Systems’s revenue was up 24.8% compared to the same quarter last year. analysts predict that Adobe Systems Incorporated will post 5.12 EPS for the current year.

In other news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total transaction of $338,845.50. Following the completion of the sale, the executive vice president now directly owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy Banse bought 1,125 shares of Adobe Systems stock in a transaction dated Monday, December 18th. The shares were bought at an average cost of $177.35 per share, with a total value of $199,518.75. Following the completion of the acquisition, the director now owns 31,453 shares of the company’s stock, valued at $5,578,189.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 351,199 shares of company stock valued at $67,326,422. 0.38% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ark Investment Management LLC lifted its stake in Adobe Systems by 113.1% in the 2nd quarter. Ark Investment Management LLC now owns 1,890 shares of the software company’s stock worth $267,000 after acquiring an additional 1,003 shares in the last quarter. Intl Fcstone Inc. purchased a new stake in Adobe Systems in the 2nd quarter worth about $305,000. Eqis Capital Management Inc. lifted its stake in Adobe Systems by 40.7% in the 3rd quarter. Eqis Capital Management Inc. now owns 2,642 shares of the software company’s stock worth $394,000 after acquiring an additional 764 shares in the last quarter. Exane Derivatives lifted its stake in Adobe Systems by 55.0% in the 3rd quarter. Exane Derivatives now owns 958 shares of the software company’s stock worth $143,000 after acquiring an additional 340 shares in the last quarter. Finally, Arrow Financial Corp lifted its stake in Adobe Systems by 66.8% in the 3rd quarter. Arrow Financial Corp now owns 3,292 shares of the software company’s stock worth $491,000 after acquiring an additional 1,318 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

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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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