Here is the rundown on market activity for Adobe Systems Incorporated (NASDAQ:ADBE). John E. Warnock, Director let go of $534,950 worth of shares at an average price of $106.99 on Tue the 27th. Warnock now owns $61,155,484 of stock per an SEC filing yesterday. Daniel Rosensweig, Director sold $1,396,460 worth of shares at an average price of $107.42 on September 26th. The Director now owns $673,309 of the stock as reported to the SEC.
Yesterday EVP Ann Lewnes disclosed the sale of 131 shares of ADBE stock. The shares were purchased at an average price of $101.68. The EVP now owns $4,368,986 of the stock according to the SEC filing.
These funds have also shifted positions in (ADBE). Evercore Wealth Management, LLC reduced its ownership by shedding 105 shares a decrease of 1.7%. Evercore Wealth Management, LLC now holds 6,011 shares with a value of $576,000. The total value of its holdings increased 0.3%. As of quarter end Macquarie Group Ltd had bought 180 shares growing its position 1.5%. The value in dollars increased from $1,107,000 to $1,148,000 a change of $41,000 quarter over quarter.
As of the end of the quarter BNP Paribas Investment Partners S.A. had disposed of a total of 26,444 shares trimming its holdings by 91.0%. The value of the total investment in Adobe Systems Incorporated went from $2,730,000 to $251,000 a change of 90.8% quarter to quarter. Twin Tree Management, Lp divested its stake by selling 47,400 shares a decrease of 63.5% in the quarter. Twin Tree Management, Lp claims 27,300 shares worth $2,565,000. The value of the position overall is down by 50.4%.
On September 23 Argus Research maintained a company rating of “Buy” and raised the price target to $127.00 from $85.00. September 21 investment analysts at UBS maintained a stock rating of “Buy” and moved up the price target from $85.00 to $130.00.
On September 21 Canaccord Genuity kept the company rating at “Overweight” but moved up the price target from $110.00 to $122.00. September 21 investment analysts at Citigroup held the company rating at “Overweight” but raised the price expectation to $122.00 from $114.00.
On September 21 Goldman Sachs held the stock rating at “Neutral” but raised the price target from $100.00 to $112.00. September 21 investment analysts at Credit Suisse left the stock rating at “Equal-weight” and raised the price expectation from $105.00 to $110.00.
The company is up from yesterday’s close of $107.26. Shares are trading at $109.70 just a bit higher than $101.63, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $97.16. The 50 day moving average was up $8.07 and the 200 day average moved up $12.54.
Adobe Systems Incorporated currently has a P/E ratio of 55.97 and the market value is 54.69B. In the last earnings report the EPS was $1.96 and is estimated to be $2.97 for the current year with 498,584,000 shares outstanding. Next quarter’s EPS is estimated at $0.85 with next year’s EPS projected to be $3.86.
Investors are feeling more bearish on shares of the company recently at least if you consider the uptick in short interest. The stock recorded a rise in short interest of 0.00% as of the latest report on September 15, 2016. Short interest increased 1,617 over that period. The short-interest ratio decreased to 2.0 and the short interest percentage is 0.01% as of September 15.