Shares of Adobe Systems Inc. (NASDAQ:ADBE) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $102.75 and last traded at $101.63, with a volume of 846,101 shares trading hands. The stock had previously closed at $101.69.

ADBE has been the subject of a number of analyst reports. Robert W. Baird upgraded shares of Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday. Zacks Investment Research cut shares of Adobe Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Vetr cut shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $95.70 target price for the company. in a research note on Monday, August 8th. Credit Suisse Group AG lifted their target price on shares of Adobe Systems from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, June 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $114.00 target price (up from $113.00) on shares of Adobe Systems in a research note on Wednesday, June 22nd. Eight research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $104.99.

The stock has a market capitalization of $50.86 billion and a PE ratio of 57.66. The firm has a 50 day moving average of $98.83 and a 200 day moving average of $94.15.

Adobe Systems (NASDAQ:ADBE) last posted its quarterly earnings data on Tuesday, June 21st. The software company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $1.40 billion for the quarter. Adobe Systems’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. Equities analysts anticipate that Adobe Systems Inc. will post $2.87 earnings per share for the current fiscal year.

In related news, EVP Donna Morris sold 2,335 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $100.00, for a total value of $233,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Ann Lewnes sold 4,000 shares of the firm’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $92.39, for a total value of $369,560.00. Following the completion of the transaction, the chief marketing officer now owns 46,828 shares in the company, valued at approximately $4,326,438.92. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its stake in Adobe Systems by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,280,333 shares of the software company’s stock valued at $120,275,000 after buying an additional 45,990 shares during the period. American International Group Inc. raised its stake in Adobe Systems by 3.2% in the fourth quarter. American International Group Inc. now owns 225,259 shares of the software company’s stock valued at $21,161,000 after buying an additional 6,904 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Adobe Systems by 469.6% in the fourth quarter. Advisors Asset Management Inc. now owns 13,100 shares of the software company’s stock valued at $1,231,000 after buying an additional 10,800 shares during the period.

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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