Adobe Systems Incorporated (NASDAQ:ADBE)’s share price hit a new 52-week high on Tuesday . The company traded as high as $152.19 and last traded at $152.28, with a volume of 988,642 shares changing hands. The stock had previously closed at $149.26.

ADBE has been the topic of a number of research reports. Vetr downgraded Adobe Systems from a “strong-buy” rating to a “buy” rating and set a $157.24 target price on the stock. in a report on Tuesday, June 20th. BidaskClub cut Adobe Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. reissued a “buy” rating and issued a $161.00 price target (up previously from $141.00) on shares of Adobe Systems in a research note on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $165.00 price target (up previously from $145.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reissued a “buy” rating and issued a $184.00 price target (up previously from $160.00) on shares of Adobe Systems in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $154.20.

The stock has a market capitalization of $75.09 billion, a price-to-earnings ratio of 53.01 and a beta of 1.00. The company’s 50-day moving average price is $146.81 and its 200 day moving average price is $134.92.

Adobe Systems (NASDAQ:ADBE) last released its quarterly earnings results on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Equities research analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current fiscal year.

In related news, Director John E. Warnock sold 32,600 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $144.07, for a total value of $4,696,682.00. Following the completion of the sale, the director now directly owns 16,088 shares in the company, valued at approximately $2,317,798.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Lewnes sold 2,233 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $139.29, for a total value of $311,034.57. Following the completion of the sale, the executive vice president now owns 61,944 shares of the company’s stock, valued at $8,628,179.76. The disclosure for this sale can be found here. Insiders sold a total of 102,239 shares of company stock valued at $14,877,475 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ADBE. Clean Yield Group purchased a new stake in Adobe Systems during the first quarter valued at about $100,000. Capital Advisors Ltd. LLC purchased a new stake in Adobe Systems during the second quarter valued at about $100,000. CWM LLC increased its stake in Adobe Systems by 11.8% in the second quarter. CWM LLC now owns 748 shares of the software company’s stock valued at $106,000 after buying an additional 79 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Adobe Systems during the first quarter valued at about $113,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Adobe Systems by 86.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,080 shares of the software company’s stock valued at $141,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 87.64% of the company’s stock.

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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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