In today’s session Adobe Systems Incorporated (ADBE) registered an unusually high (351) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious ADBE increase. With 351 contracts traded and 6064 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: ADBE161216C00115000 closed last at: $1.26 or 13.5% up. About 745,018 shares traded hands. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 12.77% since April 5, 2016 and is uptrending. It has outperformed by 10.82% 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. $130 is the highest target while $70 is the lowest. The $109.22 average target is 0.52% above today’s ($108.65) stock price. Adobe Systems has been the topic of 62 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) earned “Outperform” rating by RBC Capital Markets on Friday, October 2. The rating was upgraded by RBC Capital Markets on Tuesday, August 11 to “Sector Perform”. The stock has “Outperform” rating given by RBC Capital Markets on Friday, December 11. The stock has “Overweight” rating given by JP Morgan on Friday, December 11. On Friday, March 18 the stock rating was maintained by Credit Suisse with “Neutral”. The firm has “Outperform” rating given on Wednesday, September 21 by Cowen & Co. The company was upgraded on Tuesday, August 25 by Robert W. Baird. The rating was initiated by Dougherty & Company on Thursday, January 14 with “Buy”. On Friday, March 18 the stock rating was maintained by Goldman Sachs with “Neutral”. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, March 18 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 Q2 2016. Its down 0.10, from 1.1 in 2016Q1. The ratio worsened, 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.
The New York-based Melvin Management L P has invested 1.54% in Adobe Systems Incorporated (NASDAQ:ADBE). Axiom Int Investors Limited Com De, a Connecticut-based fund reported 929,970 shares. Chevy Chase Tru Hldgs Incorporated last reported 431,544 shares in the company. Blackrock Fund accumulated 7.50 million shares or 0.16% of the stock. Ftb holds 2,741 shares or 0.04% of its portfolio. Pinebridge Invests L P last reported 132,501 shares in the company. Price T Rowe Associates Md holds 0.02% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE) for 980,221 shares. The Missouri-based Jag Cap Mngmt Lc has invested 0.87% in Adobe Systems Incorporated (NASDAQ:ADBE). Mitchell Mcleod Pugh And Williams Inc last reported 15,774 shares in the company. Dorsey And Whitney Co Ltd Co last reported 2,555 shares in the company. Arrow Finance last reported 0.01% of its portfolio in the stock. Oakworth has 0.01% invested in the company for 297 shares. Bluecrest Mgmt Ltd holds 4,429 shares or 0.02% of its portfolio. Joel Isaacson & Ltd has 256 shares for 0.01% of their US portfolio. Gabelli Funds Ltd Llc has invested 0.11% of its portfolio in Adobe Systems Incorporated (NASDAQ:ADBE).
Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 19 selling transactions for $19.99 million net activity. Lewnes Ann also sold $13,320 worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Friday, August 26. 5,450 shares were sold by DILLON MICHAEL A, worth $555,083. Morris Donna sold $1.10M worth of stock or 10,000 shares. 5,000 shares were sold by WARNOCK JOHN E, worth $534,950. Shares for $677,808 were sold by DALEY JAMES E. $913,905 worth of shares were sold by LAMKIN BRYAN on Friday, July 1. BARNHOLT EDWARD W also sold $2.43 million worth of Adobe Systems Incorporated (NASDAQ:ADBE) shares.
Adobe Systems Incorporated is a software company. The company has a market cap of $53.53 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 55.35 P/E ratio. It operates through three divisions: Digital Media, Digital Marketing, and Print and Publishing.
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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