Adobe Systems Incorporated (ADBE) : Traders are bullish on Adobe Systems Incorporated (ADBE) as it has outperformed the S&P 500 by a wide margin of 2.23% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.96%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.02% in the last 1 week, and is up 3.28% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3% and the 50-Day Moving Average is 4.03%. Adobe Systems Incorporated (NASDAQ:ADBE): On Fridays trading session , Opening price of the stock was $100.98 with an intraday high of $101.2. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $100.06. However, the stock managed to close at $101.04, a loss of 0.62% for the day. On the previous day, the stock had closed at $101.67. The total traded volume of the day was 1,713,285 shares.
The company Insiders own 0.43% of Adobe Systems Incorporated shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -33.9% . Institutional Investors own 89.03% of Adobe Systems Incorporated shares. During last six month period, the net percent change held by insiders has seen a change of -36.69%. Also, Stephens & Co. initiates coverage on Adobe Systems Incorporated (NASDAQ:ADBE). The shares have now been rated Overweight by the stock experts at the ratings house. The rating by the firm was issued on August 10, 2016.
Adobe Systems Incorporated (Adobe) is a software company. The Company offers products and services for professionals, marketers, application developers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with content. Adobe markets and licenses its products and services through app stores and its Website www.adobe.com. The Companys operates in three segments: Digital Marketing, Digital Media, and Print and Publishing. In Digital Media, the Company is engaged in providing tools, services and solutions that enable to create, publish and promote their content. In Digital Marketing, the Company is engaged in providing solutions and services for creating, managing, executing, measuring and optimizing digital advertising and marketing campaigns. Adobes Print and Publishing segment addresses various market opportunities, including eLearning solutions, technical document publishing, Web application development and high-end printing.