ORG Partners LLC Sells 1,275 Shares of Adobe Inc. (NASDAQ:ADBE)

ORG Partners LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 80.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312 shares of the software company’s stock after selling 1,275 shares during the quarter. ORG Partners LLC’s holdings in Adobe were worth $162,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC grew its stake in shares of Adobe by 3.9% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 506 shares of the software company’s stock worth $281,000 after acquiring an additional 19 shares in the last quarter. HTLF Bank grew its position in Adobe by 3.3% in the 2nd quarter. HTLF Bank now owns 588 shares of the software company’s stock worth $327,000 after purchasing an additional 19 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in Adobe by 3.7% in the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after buying an additional 19 shares during the last quarter. Orrstown Financial Services Inc. lifted its position in shares of Adobe by 0.9% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,262 shares of the software company’s stock worth $1,257,000 after buying an additional 20 shares in the last quarter. Finally, Orser Capital Management LLC boosted its stake in shares of Adobe by 0.3% in the 2nd quarter. Orser Capital Management LLC now owns 6,867 shares of the software company’s stock worth $3,815,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In related news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the transaction, the chief executive officer now directly owns 357,700 shares in the company, valued at approximately $186,569,166. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the transaction, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now directly owns 357,700 shares of the company’s stock, valued at $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,078 shares of company stock worth $16,700,246. 0.15% of the stock is currently owned by corporate insiders.

Adobe Price Performance

Adobe stock opened at $508.03 on Wednesday. The stock has a market cap of $225.26 billion, a price-to-earnings ratio of 45.65, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $537.17 and a 200 day simple moving average of $515.94. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.53 by $0.12. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.26 earnings per share. On average, research analysts forecast that Adobe Inc. will post 14.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on ADBE shares. Stifel Nicolaus increased their price target on Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Sanford C. Bernstein lowered their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a research note on Friday, September 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Tuesday. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $606.40.

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.