Orion Portfolio Solutions LLC Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Orion Portfolio Solutions LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 536.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,167 shares of the software company’s stock after acquiring an additional 240,370 shares during the period. Adobe accounts for about 1.2% of Orion Portfolio Solutions LLC’s investment portfolio, making the stock its 9th biggest position. Orion Portfolio Solutions LLC’s holdings in Adobe were worth $126,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in Adobe in the third quarter valued at about $26,000. True Wealth Design LLC raised its holdings in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Adobe during the 4th quarter valued at about $31,000. Caitlin John LLC boosted its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after buying an additional 50 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Ricks acquired 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 5,075 shares of company stock worth $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Citigroup decreased their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Finally, StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $533.85.

Adobe Stock Down 0.4 %

Shares of NASDAQ ADBE opened at $396.15 on Friday. The company has a market cap of $172.49 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $432.69 and a two-hundred day moving average price of $471.70. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the company earned $4.48 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.