Adobe Systems Incorporated (NASDAQ:ADBE) Reports Decline in Sellers; Strong Momentum for Longs

June 20, 2017 - By Vivian Park

 Adobe Systems Incorporated (NASDAQ:ADBE) Reports Decline in Sellers; Strong Momentum for Longs

Investors sentiment decreased to 1.02 in Q4 2016. Its down 0.13, from 1.15 in 2016Q3. It worsened, 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.
Banque Pictet And Cie reported 30,717 shares. Cibc Inc holds 0.01% or 18,824 shares. Moreover, First Manhattan has 0% invested in Adobe Systems Incorporated (NASDAQ:ADBE). Td Asset Mngmt Inc holds 205,647 shares. Suvretta Capital Mgmt Ltd Liability Corp accumulated 2.60M shares. Cambridge Investment Rech reported 17,504 shares stake. Spectrum Management Group Inc reported 9,975 shares. Stratos Wealth Prtnrs invested in 4,948 shares or 0.03% of the stock. Schroder Investment has 0% invested in Adobe Systems Incorporated (NASDAQ:ADBE). Gabelli Funds Limited Liability Com owns 0.11% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 188,300 shares. Westpac Bk has 102,961 shares. Hightower Advisors Limited Liability Company reported 0.08% stake. Moreover, East Coast Asset Ltd Liability Corp has 0.07% invested in Adobe Systems Incorporated (NASDAQ:ADBE) for 2,362 shares. Etrade Cap Limited Liability accumulated 14,161 shares. Sumitomo Mitsui Trust Inc holds 0.24% or 1.41M shares in its portfolio.

Since January 4, 2017, it had 0 insider buys, and 16 insider sales for $60.06 million activity. 55,000 shares were sold by THOMPSON MATTHEW, worth $6.26M. $2.51M worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares were sold by GESCHKE CHARLES M. Lewnes Ann sold $311,035 worth of stock or 2,233 shares. 173,703 Adobe Systems Incorporated (NASDAQ:ADBE) shares with value of $19.79 million were sold by NARAYEN SHANTANU. The insider GARRETT MARK sold $5.16M. 20,000 shares valued at $2.61 million were sold by LAMKIN BRYAN on Friday, March 31. On Friday, January 20 DALEY JAMES E sold $1.10 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) or 10,000 shares.

The stock of Adobe Systems Incorporated (NASDAQ:ADBE) registered a decrease of 3.69% in short interest. ADBE’s total short interest was 4.69M shares in June as published by FINRA. Its down 3.69% from 4.87M shares, reported previously. With 1.94M shares average volume, it will take short sellers 2 days to cover their ADBE’s short positions. The short interest to Adobe Systems Incorporated’s float is 0.95%.

About 9,602 shares traded. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 42.29% since June 20, 2016 and is uptrending. It has outperformed by 25.59% the S&P500.

Adobe Systems Incorporated is a software company. The company has market cap of $71.48 billion. The Firm offers 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. It has a 54.31 P/E ratio. It operates through three divisions: Digital Media, Digital Marketing, and Print and Publishing.

Adobe Systems Incorporated (NASDAQ:ADBE) Ratings Coverage

Among 36 analysts covering Adobe Systems (NASDAQ:ADBE), 29 have Buy rating, 1 Sell and 6 Hold. Therefore 81% are positive. Adobe Systems had 72 analyst reports since August 11, 2015 according to SRatingsIntel. The rating was maintained by Wunderlich on Friday, December 11 with “Hold”. The company was maintained on Wednesday, September 21 by Cowen & Co. The rating was maintained by RBC Capital Markets on Friday, October 2 with “Outperform”. The firm has “Neutral” rating given on Wednesday, September 21 by Credit Suisse. On Thursday, November 3 the stock rating was maintained by Wunderlich with “Hold”. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Friday, December 11. As per Friday, March 18, the company rating was maintained by RBC Capital Markets. As per Wednesday, September 21, the company rating was maintained by Pivotal Research. The firm has “Overweight” rating given on Wednesday, September 21 by Pacific Crest. Argus Research maintained the stock with “Buy” rating in Monday, December 14 report.

More important recent Adobe Systems Incorporated (NASDAQ:ADBE) news were published by: Seekingalpha.com which released: “Why We Should Stay Long Adobe” on May 21, 2017, also Seekingalpha.com published article titled: “Amazing Adobe Expects Record Earnings”, Seekingalpha.com published: “Adobe: Looking For Continued Momentum” on June 13, 2017. More interesting news about Adobe Systems Incorporated (NASDAQ:ADBE) was released by: Businesswire.com and their article: “Adobe Named a Leader in Real-Time Interaction Management by Independent …” with publication date: June 13, 2017.

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