Adobe Inc. (NASDAQ:ADBE) Shares Sold by Orser Capital Management LLC

Orser Capital Management LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,395 shares of the software company’s stock after selling 97 shares during the quarter. Adobe accounts for about 2.1% of Orser Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Orser Capital Management LLC’s holdings in Adobe were worth $2,844,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Advisors Management Group Inc. ADV bought a new position in shares of Adobe in the fourth quarter valued at $272,000. Apella Capital LLC grew its holdings in shares of Adobe by 11.1% in the 4th quarter. Apella Capital LLC now owns 701 shares of the software company’s stock worth $312,000 after acquiring an additional 70 shares during the last quarter. M. Kraus & Co acquired a new stake in shares of Adobe during the fourth quarter worth $3,285,000. Acropolis Investment Management LLC acquired a new stake in shares of Adobe during the fourth quarter worth $442,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Adobe by 441.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 92 shares of the software company’s stock valued at $41,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of analyst reports. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Jefferies Financial Group dropped their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Barclays cut their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Mizuho cut their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity at Adobe

In related news, Director Amy Banse sold 606 shares of the firm’s 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 transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,763 shares of company stock valued at $893,665. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $417.28 on Thursday. 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 12 month low of $403.75 and a 12 month high of $638.25. The company’s fifty day moving average is $481.07 and its 200-day moving average is $515.02. The firm has a market cap of $183.69 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the company earned $3.52 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that Adobe Inc. will post 16.73 EPS 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.