Adobe Inc. (NASDAQ:ADBE) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 21.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,072 shares of the software company’s stock after selling 294 shares during the quarter. ORG Wealth Partners LLC’s holdings in Adobe were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC increased its holdings in Adobe by 38.9% during the 4th quarter. Ridgewood Investments LLC now owns 3,178 shares of the software company’s stock worth $1,413,000 after purchasing an additional 890 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after purchasing an additional 1,326 shares during the last quarter. ORG Partners LLC increased its holdings in Adobe by 64.4% during the 4th quarter. ORG Partners LLC now owns 513 shares of the software company’s stock worth $228,000 after purchasing an additional 201 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Adobe by 15.6% during the 4th quarter. Fortitude Family Office LLC now owns 200 shares of the software company’s stock worth $89,000 after purchasing an additional 27 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in Adobe by 3.2% during the 4th quarter. Fulton Bank N.A. now owns 16,180 shares of the software company’s stock worth $7,195,000 after purchasing an additional 499 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,293 shares of company stock valued at $1,679,809 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock traded down $13.69 during mid-day trading on Friday, reaching $405.89. The stock had a trading volume of 2,467,903 shares, compared to its average volume of 3,690,577. The firm’s 50 day simple moving average is $485.54 and its 200 day simple moving average is $517.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a one year low of $405.42 and a one year high of $638.25. The firm has a market cap of $178.67 billion, a PE ratio of 32.73, a P/E/G ratio of 2.51 and a beta of 1.31.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADBE. Oppenheimer lowered 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. Citigroup lowered their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Sanford C. Bernstein lowered their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada lowered their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, BMO Capital Markets lowered their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.85.

Adobe Company 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.