ORG Partners LLC Grows Stake in Adobe Inc. (NASDAQ:ADBE)

ORG Partners LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 64.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 513 shares of the software company’s stock after purchasing an additional 201 shares during the period. ORG Partners LLC’s holdings in Adobe were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after buying an additional 33,414 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares during the period. GAMMA Investing LLC increased its holdings in Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after acquiring an additional 1,412 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Adobe by 201.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after acquiring an additional 78,384 shares during the period. Finally, Morse Asset Management Inc lifted its holdings in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 1,530 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock valued at $1,679,809 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

ADBE has been the topic of several research reports. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Citigroup lowered their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday. Finally, TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $575.85.

Adobe Trading Down 3.3 %

Shares of ADBE opened at $405.92 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a fifty-two week low of $405.32 and a fifty-two week high of $638.25. The firm has a 50 day moving average price of $484.01 and a 200-day moving average price of $517.08. The firm has a market cap of $178.69 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.52 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current year.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.