Adobe Stock Rips Higher After Q2 Earnings Beat
- Author: Zachary Reyes Jun 21, 2017,
Jun 21, 2017, 12:20
Thanks to more customers subscribing to its Creative Cloud suite, Adobe Systems Inc.
Cash flow from operations was $645 million, and deferred revenue grew to approximately $2.07 billion. Clean Yield Group bought a new stake in shares of Adobe Systems during the first quarter valued at $100,000. The stock now has Weekly Volatility of 2.13% and Monthly Volatility of 1.82%. WARNOCK JOHN E sold $536,405 worth of Adobe Systems Incorporated (NASDAQ:ADBE) on Tuesday, January 17. It has outperformed by 25.59% the S&P500.The move comes after 9 months positive chart setup for the $71.17B company. UBS maintained the shares of ADBE in report on Wednesday, June 22 with "Buy" rating. Its down 3.69% from 4.87 million shares, reported previously. A stock with a small float will generally be more volatile than a stock with a large float, apart from having limited liquidity and wider bid-ask spread. It has underperformed by 36.27% the S&P500.
Since January 4, 2017, it had 0 insider buys, and 16 insider sales for $60.06 million activity. 45,199 shares were sold by GARRETT MARK, worth $5.16 million on Monday, February 6. DILLON MICHAEL A sold $1.18 million worth of stock. Shares for $279,125 were sold by Lewnes Ann. Another trade for 40,000 shares valued at $4.56 million was sold by Rencher Bradley. Yesterday's after-hours trade saw Adobe's shares gaining 3.61% to a fresh all-time high of $146.00. Its down 0.13, from 1.15 in 2016Q3. The correct version of this story can be accessed at https://sportsperspectives.com/2017/06/21/allegis-investment-advisors-llc-purchases-4224-shares-of-adobe-systems-incorporated-adbe-updated-updated.html. 85 funds opened positions while 267 raised stakes. Morgan Stanley reiterated an "equal weight" rating and issued a $137.00 target price on shares of Adobe Systems in a research report on Friday.
Presently Adobe Systems Incorporated (NASDAQ:ADBE) stock have an ABR of 1.45. Altavista Wealth Mngmt Inc stated it has 6,597 shares or 0.15% of all its holdings. Mizuho upgraded the shares of DDR in report on Monday, November 7 to "Neutral" rating. Dsc Advsr LP holds 3,936 shares or 0.23% of its portfolio. Fieldpoint Private Inc has invested 0.43% in Adobe Systems Incorporated (NASDAQ:ADBE).
Bahl & Gaynor Inc increased Microsoft Corporation (NASDAQ:MSFT) stake by 84,244 shares to 5.49M valued at $341.42 million in 2016Q4. Alexandria Capital Limited Liability Co holds 0% or 88 shares. Bailard has 26,100 shares for 0.04% of their portfolio. Therefore 89% are positive. Analysts had estimated revenue of $4.54 billion, according to FactSet. Adobe Systems now has an average rating of "Buy" and a consensus price target of $140.51. Pacific Crest maintained Adobe Systems Incorporated (NASDAQ:ADBE) rating on Wednesday, September 21. Credit Suisse has "Neutral" rating and $105 target. The rating was maintained by Guggenheim on Wednesday, April 19 with "Buy". The firm has "Overweight" rating given on Wednesday, September 21 by Pacific Crest. BMO Capital Markets maintained the stock with "Outperform" rating in Friday, June 9 report. On Friday, September 23 the stock rating was maintained by Argus Research with "Buy". On Friday, December 11 the stock rating was maintained by Pivotal Research with "Buy".
Investors sentiment increased to 1.25 in Q4 2016. Its down 0.13, from 1.15 in 2016Q3. Rathbone Brothers Plc invested in 1.22% or 236,285 shares. About 104 shares traded. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 32,177 shares. That suite, which includes iconic Adobe applications such as Photoshop and Illustrator, raked in $1.21 billion in the second quarter, up from $943 million three months ago. Breton Hill Capital Ltd holds 0.29% or 11,140 shares. Alliancebernstein Limited Partnership has invested 0% in Endo International plc - Ordinary Shares (NASDAQ:ENDP). Amica Retiree Trust invested in 0.24% or 2,919 shares. Findlay Park Partners Ltd Liability Partnership owns 2.21M shares. First Citizens Financial Bank And Trust invested in 0.09% or 8,128 shares. Bank Of America De has 777,419 shares. It is negative, as 28 investors sold DDR Corp shares while 70 reduced holdings. 241,827 are held by Blackrock Ltd Liability Corp.