Adobe Systems Inc. (NASDAQ:ADBE) gapped up before the market opened on Friday . The stock had previously closed at $102.54, but opened at $102.90. Adobe Systems shares last traded at $103.47, with a volume of 736,919 shares traded.

A number of equities research analysts recently weighed in on the company. Vetr upgraded Adobe Systems from a “sell” rating to a “hold” rating and set a $92.54 price objective for the company in a research note on Thursday, August 25th. Robert W. Baird upgraded Adobe Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Thursday, August 25th. Zacks Investment Research cut Adobe Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 19th. Royal Bank Of Canada restated an “outperform” rating and set a $104.00 price objective on shares of Adobe Systems in a research note on Wednesday, June 22nd. Finally, Citigroup Inc. decreased their price objective on Adobe Systems from $117.00 to $114.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Eight investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Adobe Systems currently has an average rating of “Buy” and an average price target of $104.99.

The company has a 50-day moving average of $99.57 and a 200-day moving average of $94.99. The company has a market capitalization of $51.61 billion and a PE ratio of 58.51.

Adobe Systems (NASDAQ:ADBE) last posted its earnings results on Tuesday, June 21st. The software company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company earned $1.40 billion during the quarter. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Adobe Systems Inc. will post $2.87 earnings per share for the current fiscal year.

In related news, EVP Michael A. Dillon sold 5,450 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $101.85, for a total value of $555,082.50. Following the sale, the executive vice president now owns 44,324 shares of the company’s stock, valued at approximately $4,514,399.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donna Morris sold 2,335 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $100.00, for a total value of $233,500.00. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Adobe Systems stock. Schwab Charles Investment Management Inc. increased its position in shares of Adobe Systems Inc. (NASDAQ:ADBE) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,333 shares of the software company’s stock after buying an additional 45,990 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.26% of Adobe Systems worth $120,275,000 at the end of the most recent quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.