Adobe Systems Incorporated (ADBE) on Focus After Forming Wedge Up Chart Pattern

September 17, 2017 - By Winifred Garcia

Investors sentiment decreased to 1.02 in 2016 Q4. Its down 0.13, from 1.15 in 2016Q3. It turned negative, as 57 investors sold Adobe Systems Incorporated shares while 287 reduced holdings. 85 funds opened positions while 267 raised stakes. 417.05 million shares or 0.67% less from 419.85 million shares in 2016Q3 were reported.
Jennison Llc holds 1.5% in Adobe Systems Incorporated (NASDAQ:ADBE) or 13.04 million shares. Sandhill Capital Prtnrs Limited Com holds 4.12% or 145,720 shares in its portfolio. Thompson Investment invested in 0.07% or 3,500 shares. Canada Pension Plan Board accumulated 341,948 shares or 0.13% of the stock. 4.98 million were reported by Ameriprise Financial Inc. Paloma Mngmt reported 0.06% in Adobe Systems Incorporated (NASDAQ:ADBE). Cornerstone Advisors reported 1,541 shares. Lmr Ltd Liability Partnership stated it has 13,716 shares or 0.22% of all its holdings. Moreover, Ashmore Wealth Management Ltd has 2.47% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 406,807 shares. 233,773 are held by Cambridge. Old Bancshares In holds 0.09% or 14,673 shares in its portfolio. Dana owns 0.31% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 64,111 shares. Tokio Marine Asset Mgmt Com Ltd holds 0.11% or 9,627 shares in its portfolio. 34,831 are owned by Mai Cap Mgmt. Quantitative Invest Ltd Com owns 74,700 shares.

Since March 20, 2017, it had 0 insider buys, and 4 sales for $3.50 million activity. 20,000 shares valued at $2.61M were sold by LAMKIN BRYAN on Friday, March 31. $279,125 worth of Adobe Systems Incorporated (NASDAQ:ADBE) was sold by Lewnes Ann on Wednesday, March 22. 59,550 shares valued at $7.50 million were sold by GESCHKE CHARLES M on Monday, March 20.

The stock of Adobe Systems Incorporated (ADBE) formed an up wedge with $163.76 target or 6.00 % above today’s $154.49 share price. The 8 months wedge indicates low risk for the $76.23 billion company. If the $163.76 price target is reached, the company will be worth $4.57 billion more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.30% or $0.46 on September 15, reaching $154.49. About 3.01 million shares traded or 98.03% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since September 17, 2016 and is uptrending. It has outperformed by 25.59% the S&P500.

Analysts await Adobe Systems Incorporated (NASDAQ:ADBE) to report earnings on September, 19 after the close. They expect $0.82 earnings per share, up 36.67 % or $0.22 from last year’s $0.6 per share. ADBE’s profit will be $404.61 million for 47.10 P/E if the $0.82 EPS becomes a reality. After $0.81 actual earnings per share reported by Adobe Systems Incorporated for the previous quarter, Wall Street now forecasts 1.23 % EPS growth.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 38 analysts covering Adobe Systems (NASDAQ:ADBE), 31 have Buy rating, 1 Sell and 6 Hold. Therefore 82% are positive. Adobe Systems had 97 analyst reports since August 11, 2015 according to SRatingsIntel. The stock has “Neutral” rating by Robert W. Baird on Tuesday, August 25. The firm has “Hold” rating by Wunderlich given on Friday, December 11. The rating was initiated by BMO Capital Markets on Thursday, January 5 with “Outperform”. The rating was maintained by Rosenblatt with “Buy” on Wednesday, June 22. Jefferies maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Friday, September 18. Jefferies has “Buy” rating and $92.0 target. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Buy” rating by Canaccord Genuity on Tuesday, June 20. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Buy” rating given on Wednesday, September 21 by Pivotal Research. RBC Capital Markets maintained the shares of ADBE in report on Wednesday, September 21 with “Outperform” rating. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Outperform” rating by RBC Capital Markets on Wednesday, February 8. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has “Buy” rating given on Tuesday, June 20 by BMO Capital Markets.

More notable recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Microsoft, Adobe advance cloud-focused partnership” on September 07, 2017, also Seekingalpha.com with their article: “Adobe Deep Dive: In Breakout Territory” published on September 05, 2017, Zacks.com published: “Adobe Systems (ADBE) Set to Top Estimates in Q3 Earnings” on September 14, 2017. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) were released by: Seekingalpha.com and their article: “Adobe: A GARP Play Worth A Look” published on September 12, 2017 as well as Investorplace.com‘s news article titled: “3 Big Stock Charts for Tuesday: Adobe Systems Incorporated (ADBE), Caterpillar …” with publication date: August 22, 2017.

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