Adobe Systems (NDAQ:ADBE) Change of Rating
Pivotal Research decreased the shares of Adobe Systems (NDAQ:ADBE) from a “Hold” rating to “Sell” rating in analysts note revealed on 12 June. The financial company now has $112.00 target price per share on company.
The firm’s rating downgrade was most probably noticed by equity trades, as NDAQ:ADBE is right now trading -0.58% lower at $137.25 as of 8:28 AM New York time. Adobe Systems shares have [From2] 0% over the last 200 days, while the S&P500 Index has added 6.00% over the same time.
According to data compiled by Thomson Reuters, Adobe Systems (NDAQ:ADBE)’s stock is covered by 21 equity analysts across the Street, with 0 analysts giving it a Sell rating, 18 a Buy rating, while 5 consider it a Hold. The 12-month consensus target price for the stock is $111.57, which reflects an downside potential of 18.71% over the current price.
Family Capital Trust Co had the most significant stake with ownership of 549,156 shares as of Q2 2015 for 33.76% of the US long stock exposure. Glade Brook Capital Partners Llc is another bullish investment manager who is having 482,903 shares of Adobe Systems or 22.03% of their US long stock exposure. Also, Crestwood Capital Management L.P. have 10.28% of their US long stock exposure invested in the company for 321,150 shares. The New York-based fund Suvretta Capital Management Llc disclosed it had purchased a stake worth about 7.83% of the investment manager’s stock portfolio in Adobe Systems. The New York-based fund Kemnay Advisory Services Inc. is also positive about the stock, possessing 2.25 million shares or 7.14% of their US long stock exposure.
Adobe Systems (NDAQ:ADBE) Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences. It operates through three segments: Digital Media, Digital Marketing, and Print and Publishing.
Adobe Systems (NDAQ:ADBE) traded down -0.58% on 12 June, hitting $137.25. A total of 6.77 million shares of the company’s stock traded hands. This is up from average of 2.30 million shares. Adobe Systems has a 52 week low of $90.35 and a 52 week high of $144.34. The company has a market cap of $65.72 billion and a P/E ratio of 52.52.
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