Orion Portfolio Solutions LLC Has $26.67 Million Position in Adobe Inc. (NASDAQ:ADBE)

Orion Portfolio Solutions LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) 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

A number of equities research analysts have weighed in on ADBE shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $610.00 price objective on shares of Adobe in a report on Wednesday, March 27th. UBS Group cut their target price on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Mizuho reiterated a “buy” rating and issued a $680.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $625.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Barclays cut their target price on shares of Adobe from $700.00 to $630.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.72.

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) 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.