Orion Portfolio Solutions LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,935 shares of the software company’s stock after buying an additional 1,502 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Adobe were worth $26,667,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ADBE. HBC Financial Services PLLC acquired a new stake in Adobe during the third quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Adobe during the fourth quarter valued at approximately $35,000. Hanseatic Management Services Inc. acquired a new stake in Adobe during the third quarter valued at approximately $45,000. First Command Advisory Services Inc. acquired a new stake in Adobe during the third quarter valued at approximately $52,000. Finally, Advisors Preferred LLC acquired a new stake in Adobe during the third quarter valued at approximately $60,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Adobe news, insider Anil Chakravarthy sold 100 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the transaction, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $468.41, for a total transaction of $45,435.77. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,933,596.48. The disclosure for this sale can be found here. Insiders have sold 3,006 shares of company stock valued at $1,424,432 in the last three months. 0.15% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Adobe
Adobe Stock Down 1.6 %
NASDAQ ADBE traded down $7.88 on Friday, reaching $475.43. The company had a trading volume of 3,082,149 shares, compared to its average volume of 3,319,054. The company’s fifty day moving average is $487.14 and its 200-day moving average is $556.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Adobe Inc. has a 1-year low of $374.09 and a 1-year high of $638.25. The firm has a market capitalization of $212.99 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28.
Adobe (NASDAQ:ADBE – Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm posted $2.97 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts forecast that Adobe Inc. will post 14.55 earnings per share for the current fiscal year.
Adobe declared that its Board of Directors has initiated a share buyback program on Thursday, March 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the software company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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.
Further Reading
- Five stocks we like better than Adobe
- Why Invest in 5G? How to Invest in 5G Stocks
- NASDAQ 100 vs. NASDAQ Composite: A Detailed Breakdown of NASDAQ
- What is Put Option Volume?
- These 2 Retail Traders Favorites are Nearing Major Breakouts
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Snowflake is Melting… Up, With a Double-Digit Upside Potential
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.