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April 3, 2014
15:08 EDTADBEAdobe trades lower after insiders sell shares
Shares of software company Adobe (ADBE) are trading significantly lower today after insiders reported selling their shares of the stock. WHAT'S NEW: In regulatory filings last night, four Adobe insiders reported share sales. Co-chairman Charles Geschke, CEO Shantanu Narayen, CFO Mark Garrett, and general manager David Wadhwani all sold shares in Adobe this past week. RECENT ANALYST ACTIONS: On March 19, Stern Agee raised its price target on Adobe to $80 from $70. The firm noted that Adobe reported very good first quarter results. The firm said it expects the company's Creative Cloud momentum to enable its market share to increase going forward. Sterne Agee kept a Buy rating on the stock. On March 21, Argus increased its price target on Adobe to $81 from $71 after the company reported stronger than expected Q1 results. The firm kept a Buy rating on the shares. PRICE ACTION: Shares of Adobe traded at a 52-week high of $71.11 on February 28 and reported first quarter earnings on March 18 that handily beat estimates. Shares of Adobe are lower by almost 5% in afternoon trading to $62.33.
News For ADBE From The Last 14 Days
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July 20, 2015
09:02 EDTADBEAdobe names Abhay Parasnis as CTO, senior VP of Platform Technology & Services
Adobe named Abhay Parasnis as chief technology officer and senior vice president of platform technology and services. Parasnis will drive Adobe’s technology strategy, architecture and innovation roadmap for its cloud services, focusing on integration of its three cloud services; providing a consistent customer experience via the cloud; and enabling the company’s cloud-based go-to-market strategies. Parasnis brings nearly 20 years of experience in the software industry. Most recently, he was president and chief operating officer of venture-funded enterprise mobility leader Kony.

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