Adobe Systems Target of Unusually Large Options Trading (ADBE)
Adobe Systems Incorporated (NASDAQ:ADBE) saw unusually large options trading activity on Wednesday. Stock traders purchased 27,240 put options on the stock. This is an increase of 752% compared to the average daily volume of 3,199 put options.
ADBE has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Adobe Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Vetr lowered shares of Adobe Systems from a “hold” rating to a “sell” rating and set a $150.30 price objective for the company. in a report on Thursday, August 31st. Morgan Stanley reaffirmed an “equal weight” rating and set a $137.00 price objective on shares of Adobe Systems in a report on Friday, June 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $157.00 price objective on shares of Adobe Systems in a report on Monday, July 31st. Finally, BidaskClub raised shares of Adobe Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Adobe Systems presently has a consensus rating of “Buy” and a consensus target price of $157.28.
In other Adobe Systems news, EVP Ann Lewnes sold 1,953 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $155.88, for a total transaction of $304,433.64. Following the completion of the sale, the executive vice president now directly owns 56,356 shares of the company’s stock, valued at approximately $8,784,773.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Rosensweig sold 11,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $143.71, for a total transaction of $1,580,810.00. Following the sale, the director now directly owns 8,801 shares of the company’s stock, valued at $1,264,791.71. The disclosure for this sale can be found here. Insiders sold a total of 64,359 shares of company stock valued at $9,449,192 over the last three months. 0.38% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Adobe Systems by 4.9% in the 2nd quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock valued at $5,041,950,000 after purchasing an additional 1,651,762 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Adobe Systems by 8.2% in the 2nd quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock valued at $4,871,931,000 after purchasing an additional 2,621,275 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Adobe Systems by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,998,738 shares of the software company’s stock valued at $4,808,783,000 after purchasing an additional 943,487 shares during the last quarter. State Street Corp lifted its stake in shares of Adobe Systems by 1.2% in the 1st quarter. State Street Corp now owns 19,516,573 shares of the software company’s stock valued at $2,539,679,000 after purchasing an additional 234,270 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Adobe Systems by 784.4% in the 2nd quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock valued at $1,587,936,000 after purchasing an additional 9,957,241 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of Adobe Systems (NASDAQ:ADBE) opened at 148.50 on Friday. The company has a market capitalization of $73.27 billion, a P/E ratio of 51.72 and a beta of 1.00. The stock’s 50 day moving average price is $151.61 and its 200 day moving average price is $140.16. Adobe Systems has a 52-week low of $98.00 and a 52-week high of $157.89.
Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings results on Tuesday, September 19th. The software company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Adobe Systems will post $4.22 earnings per share for the current fiscal year.
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Adobe Systems Company Profile
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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