This Is What Whales Are Betting On Adobe
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Adobe (NASDAQ:ADBE) by a large investor, as observed from publicly available options history. The overall sentiment of these big-money traders is split between 46% bullish and 53% bearish. Whales have been targeting a price range from $415.0 to $605.0 for Adobe over the last 3 months. Morgan Stanley upgraded its action to Overweight with a price target of $660.
August 07, 2023 | 2:16 pm
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A large investor has taken a bearish stance on Adobe, with big-money traders sentiment split between 46% bullish and 53% bearish. Morgan Stanley upgraded its action to Overweight with a price target of $660.
The bearish stance taken by a large investor, along with the split sentiment among big-money traders, indicates potential downward pressure on Adobe's stock in the short term. However, the upgrade by Morgan Stanley to Overweight with a higher price target suggests a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100