The stock of Adobe Systems Incorporated (NASDAQ:ADBE) registered a decrease of 3.47% in short interest. ADBE’s total short interest was 4.73 million shares in September as published by FINRA. Its down 3.47% from 4.90 million shares, reported previously. With 1.51M shares average volume, it will take short sellers 3 days to cover their ADBE’s short positions. The short interest to Adobe Systems Incorporated’s float is 0.95%. About 1.88 million shares traded hands or 6.82% up from the average. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 33.87% since February 8, 2016 and is uptrending. It has outperformed by 17.38% the S&P500.
Adobe Systems Incorporated is a software company. The company has a market cap of $49.73 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 55.85 P/E ratio. It operates through three divisions: Digital Media, Digital Marketing, and Print and Publishing.
The institutional sentiment decreased to 1 in Q2 2016. Its down 0.10, from 1.1 in 2016Q1. The ratio turned 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.
Glade Brook Capital Partners Llc holds 37.26% of its portfolio in Adobe Systems Incorporated for 482,924 shares. Family Capital Trust Co owns 570,546 shares or 32.4% of their US portfolio. Moreover, Shearlink Capital Llc has 8.63% invested in the company for 207,071 shares. The New York-based Ao Asset Management Llc has invested 7.74% in the stock. Junto Capital Management Lp, a New York-based fund reported 502,000 shares.
Out of 27 analysts covering Adobe Systems (NASDAQ:ADBE), 22 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 81% are positive. Adobe Systems has been the topic of 43 analyst reports since September 18, 2015 according to StockzIntelligence Inc. UBS maintained the stock on June 22 with “Buy” rating.
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