The stock of Adobe Systems Incorporated (NASDAQ:ADBE) registered a decrease of 9.88% in short interest. ADBE’s total short interest was 6.30M shares in April as published by FINRA. Its down 9.88% from 6.99M shares, reported previously. With 3.13M 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 1.27%. The stock increased 0.31% or $0.29 on April 8, hitting $94.07. Adobe Systems Incorporated (NASDAQ:ADBE) has risen 21.77% since September 2, 2015 and is uptrending. It has outperformed by 16.71% the S&P500.
Adobe Systems Incorporated is a software company. The company has a market cap of $47.20 billion. The Firm offers services and products for professionals, marketers, application developers, enterprises and clients for creating, managing, delivering, optimizing and engaging with content. It has 59.59 P/E ratio. Adobe markets and licenses its services and products through app stores and its Website www.adobe.com.
The institutional sentiment increased to 1.32 in Q3 2015. Its up 0.43, from 0.89 in 2015Q2. The ratio increased, as 48 funds sold all Adobe Systems Incorporated shares owned while 206 reduced positions. 77 funds bought stakes while 259 increased positions. They now own 451.92 million shares or 0.26% more from 450.73 million shares in 2015Q2.
Family Capital Trust Co holds 30.84% of its portfolio in Adobe Systems Incorporated for 646,454 shares. Glade Brook Capital Partners Llc owns 494,034 shares or 14.24% of their US portfolio. Moreover, Suvretta Capital Management Llc has 7.5% invested in the company for 860,500 shares. The California-based Valueact Holdings L.P. has invested 6.7% in the stock. Kemnay Advisory Services Inc., a New York-based fund reported 95,290 shares.
Since March 12, 2015, the stock had 0 insider buys, and 6 insider sales for $6.34 million net activity. Morris Donna sold 16,000 shares worth $1.41 million. Sedgewick Robert sold 15,942 shares worth $1.42 million. Daley James E sold 5,000 shares worth $441,677. Rencher Bradley sold 26,000 shares worth $2.31 million. The insider Lewnes Ann sold 4,000 shares worth $336,000.
Out of 22 analysts covering Adobe Systems (NASDAQ:ADBE), 19 rate it “Buy”, 0 “Sell”, while 6 “Hold”. This means 76% are positive. Adobe Systems was the topic in 44 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Dougherty & Company maintained the stock on April 4 with “Buy” rating.
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