The stock of Adobe Systems Incorporated (NASDAQ:ADBE) reached all time high today, Oct, 10 and still has $181.62 target or 66.00% above today’s $109.41 share price. This indicates more upside for the $54.44 billion company. This technical setup was reported by Barchart.com. If the $181.62 PT is reached, the company will be worth $35.93 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 416,326 shares traded hands. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 27.65% since March 7, 2016 and is uptrending. It has outperformed by 20.05% the S&P500.
Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage
Out of 31 analysts covering Adobe Systems (NASDAQ:ADBE), 24 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 77% are positive. Adobe Systems has been the topic of 61 analyst reports since August 11, 2015 according to StockzIntelligence Inc. UBS maintained the stock with “Buy” rating in Wednesday, June 22 report. The firm has “Neutral” rating by Goldman Sachs given on Wednesday, March 9. On Wednesday, September 2 the stock rating was upgraded by Vetr to “Strong-Buy”. On Friday, October 2 the stock rating was maintained by RBC Capital Markets with “Outperform”. Canaccord Genuity maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Wednesday, September 21. Canaccord Genuity has “Buy” rating and $120 price target. The firm has “Overweight” rating given on Tuesday, July 26 by Piper Jaffray. Deutsche Bank maintained the shares of ADBE in a report on Tuesday, December 8 with “Buy” rating. The rating was maintained by Morgan Stanley on Wednesday, September 21 with “Equal-Weight”. The firm has “Buy” rating given on Friday, September 18 by Jefferies. The firm earned “Outperform” rating on Friday, March 18 by Bernstein.
According to Zacks Investment Research, “Adobe Systems Incorporated is a provider of graphic design, publishing, and imaging software for Web and print production. It offers a market-leading line of application software products for creating, distributing, and managing information of all types. The company license its industry-standard technologies to major hardware manufacturers, software developers, and service providers, and offer integrated software solutions to businesses of all sizes.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.10, from 1.1 in 2016Q1. The ratio is negative, as 65 funds sold all Adobe Systems Incorporated shares owned while 263 reduced positions. 71 funds bought stakes while 257 increased positions. They now own 421.89 million shares or 4.58% less from 442.13 million shares in 2016Q1.
Moreover, Bristol John W & Ny has 1.97% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 730,288 shares. Maverick Limited has invested 3.34% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Papp L Roy Assocs accumulated 14,550 shares or 0.33% of the stock. Edge Asset reported 299,662 shares or 0.26% of all its holdings. Ironbridge Management L P accumulated 0.01% or 2,230 shares. Gsa Capital Prtnrs Limited Liability Partnership last reported 0.07% of its portfolio in the stock. Panagora Asset holds 0.03% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 60,327 shares. Ig accumulated 0.09% or 237,207 shares. Jag Management Limited Liability Co accumulated 0.87% or 46,675 shares. Moreover, C M Bidwell & Assocs Ltd has 0% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 185 shares. X Company Ltd Llc last reported 375 shares in the company. Finemark Financial Bank And accumulated 92,190 shares or 0.98% of the stock. Tower Research Capital Limited Liability (Trc) holds 0.03% or 3,233 shares in its portfolio. Trillium Asset Limited Liability last reported 1.28% of its portfolio in the stock. Baring Asset Limited has invested 0.81% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE).
Insider Transactions: Since April 12, 2016, the stock had 0 buys, and 19 selling transactions for $18.70 million net activity. Shares for $25,929 were sold by ROWLEY RICHARD on Friday, July 1. $677,808 worth of Adobe Systems Incorporated (NASDAQ:ADBE) was sold by DALEY JAMES E. ROSENSWEIG DANIEL had sold 13,000 shares worth $1.40 million on Monday, September 26. Shares for $3.59M were sold by Rencher Bradley. The insider LAMKIN BRYAN sold $913,905. On Monday, July 11 BARNHOLT EDWARD W sold $2.43M worth of the stock or 25,000 shares. DILLON MICHAEL A also sold $900,167 worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares.
More recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Investorplace.com which released: “3 Reasons Adobe Systems Incorporated is a Stock to Buy (ADBE)” on October 06, 2016. Also Profitconfidential.com published the news titled: “Adobe Systems Incorporated: Why ADBE Stock Could Climb Double Digits” on September 14, 2016. Investorplace.com‘s news article titled: “Why Microsoft Corporation (MSFT), Adobe Systems Incorporated (ADBE) and FedEx …” with publication date: September 21, 2016 was also an interesting one.
ADBE Company Profile
Adobe Systems Incorporated, incorporated on May 9, 1997, is a software company. The Firm offers a line of services and products used by professionals, marketers, knowledge workers, application developers, enterprises and clients for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences across multiple operating systems, devices and media. The Firm operates through three divisions: Digital Media, Digital Marketing, and Print and Publishing. The Firm markets and licenses its services and products directly to enterprise clients through its sales force and to end users through application stores and its own Website at www.adobe.com. It offers various products through a software-as-a-service (SaaS) model or a managed services model (both of which are referred to as a hosted or cloud model), as well as through term subscription and pay-per-use models.
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