The stock of Adobe Systems Incorporated (NASDAQ:ADBE) is a huge mover today! About 1.57M shares traded hands. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 11.97% since April 11, 2016 and is uptrending. It has outperformed by 5.83% the S&P500.
The move comes after 7 months positive chart setup for the $49.72B company. It was reported on Nov, 11 by Barchart.com. We have $167.86 PT which if reached, will make NASDAQ:ADBE worth $30.83B more.
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 62 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, September 23 by Argus Research. The stock has “Strong-Buy” rating given by Vetr on Wednesday, September 2. The stock has “Neutral” rating given by Credit Suisse on Friday, March 18. The stock has “Neutral” rating given by Robert W. Baird on Tuesday, August 25. On Tuesday, December 8 the stock rating was maintained by Deutsche Bank with “Buy”. Atlantic Securities upgraded the stock to “Overweight” rating in Wednesday, October 14 report. As per Tuesday, August 11, the company rating was upgraded by RBC Capital Markets. The firm has “Buy” rating by UBS given on Wednesday, September 21. The company was maintained on Wednesday, September 21 by Pivotal Research. Morgan Stanley maintained the stock with “Equal-Weight” rating in Wednesday, September 21 report.
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 2016 Q2. Its down 0.10, from 1.1 in 2016Q1. The ratio fall, 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.
Parametric Associate Limited has 1.14 million shares for 0.17% of their US portfolio. Baldwin Lc has invested 0.4% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE). Johnson Counsel Inc has 0.01% invested in the company for 3,328 shares. Bp Plc accumulated 73,000 shares or 0.28% of the stock. Notis accumulated 3,060 shares or 0.21% of the stock. Great Lakes Ltd Liability Company reported 3,504 shares or 0.01% of all its holdings. Moreover, Foundry Prns Ltd Com has 0.16% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 29,317 shares. Adirondack Tru, a New York-based fund reported 150 shares. Wetherby Asset Management Inc has 0.16% invested in the company for 7,440 shares. Guardian Life Insurance Com Of America has 0.01% invested in the company for 1,868 shares. Balyasny Asset Management Ltd Com holds 0.03% or 53,656 shares in its portfolio. Ep Wealth Advsr Inc last reported 5,074 shares in the company. Addenda Capital accumulated 0.36% or 45,326 shares. Cornerstone owns 7,500 shares or 0.18% of their US portfolio. Stephens Investment Mgmt Gp Ltd Liability Company, a Texas-based fund reported 395 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 19 sales for $19.99 million net activity. Lewnes Ann sold $13,320 worth of stock or 131 shares. On Monday, October 10 the insider Morris Donna sold $1.10 million. 5,000 shares with value of $492,500 were sold by DALEY JAMES E on Wednesday, July 20. Another trade for 25,000 shares valued at $2.43M was sold by BARNHOLT EDWARD W. $913,905 worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares were sold by LAMKIN BRYAN. DILLON MICHAEL A sold 13,331 shares worth $1.46M. $2.78M worth of Adobe Systems Incorporated (NASDAQ:ADBE) was sold by GARRETT MARK.
Another recent and important Adobe Systems Incorporated (NASDAQ:ADBE) news was published by Investorplace.com which published an article titled: “TUBE, ADBE: TubeMogul Inc Shares Skyrocket on Adobe Systems Incorporated Deal” on November 10, 2016.
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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