Check Out What Whales Are Doing With ADBE
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Adobe (NASDAQ:ADBE), with 60% of recent trades being bearish and 40% bullish. The total amount for puts was $180,083 and for calls was $404,740. The targeted price range for Adobe over the last 3 months has been $270.0 to $560.0. Adobe's current price is up 1.79% at $521.62. Morgan Stanley and B of A Securities have upgraded their actions to Overweight and Buy respectively, with price targets of $660 and $630.
August 25, 2023 | 2:46 pm
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Bearish stance taken on Adobe with 60% of recent trades being bearish. Targeted price range for Adobe over the last 3 months is $270.0 to $560.0. Current price is up 1.79% at $521.62.
The bearish stance taken by a significant investor, along with the higher total amount for puts compared to calls, suggests a potential downward pressure on Adobe's stock price in the short term. However, the recent upgrades by Morgan Stanley and B of A Securities could provide some upward momentum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100