Co-Founder of Well-Known Creative Software Maker Offloads Shares, Retired CEO of Industrial-Product Maker Sells Shares, Plus Other Insider Trading

Co-Founder of Well-Known Creative Software Maker Offloads Shares

An influential and well-informed member of Adobe Systems Incorporated (NASDAQ:ADBE)’s boardroom offloaded a sizeable block of shares earlier this year. Charles M. Geschke, co-founder and co-Chairman of the graphics and publishing software company, discarded 48,100 shares on Wednesday at prices ranging from $103.87 to $104.31 per share, all of which were held by the Geschke Family Trust. Mr. Geschke currently holds a stake of 251,873 shares through the trust mentioned above.

The shares of the maker of software used to design, publish and market digital content have gained 18% in the past 12 months. Just recently, financial services provider BMO Capital Markets initiated coverage on Adobe Systems Incorporated (NASDAQ:ADBE) with an ‘Outperform’ rating and a price target of $125. “The growth of Creative Cloud, Marketing Cloud margin expansion and operating expense leverage create upside tension to operating margins and our EPS estimates,” wrote BMO Capital analysts in a recent research note. More importantly, BMO analysts believe the creative software maker’s “gross margin expansion, scale, cross sell opportunities, and high renewal rates will continue to drive operating leverage.” Stephen Mandel’s Lone Pine Capital had 4.62 million shares of Adobe Systems Incorporated (NASDAQ:ADBE) in its portfolio at the end of the third quarter.

Retired CEO of Industrial-Product Maker Sells Shares

A member of Actuant Corporation (NYSE:ATU)’s Board of Directors offloaded a great deal of shares earlier this week. Board member Robert C. Arzbaecher, retired Chairman and CEO of the company, sold a total of 179,265 Class A shares on Tuesday at prices ranging from $25.95 to $26.75 per share, cutting his direct ownership stake to 315,000 shares. Mr. Arzbaecher, who doesn’t plan to stand for re-election as a director at the company’s upcoming annual shareholders’ meeting in mid-January, also reported the sale of the 2,200-share stake owned by his daughter and the stake of 2,400 shares owned by his spouse.

The shares of the industrial-product maker have gained 15% in the past 12 months, with some analysts anticipating the stock to reach even higher levels. Just recently, analysts at Aegis Capital reiterated their ‘Buy’ rating on Actuant Corporation (NYSE:ATU), arguing that the company’s results for the first quarter that ended November 30 showed further signs of stabilization in key end-markets. The much-anticipated industrial recovery in the United States should also boost the company’s results, with Aegis Capital’s analysts expecting an inflection in sales at Actuant’s most profitable industrial segment later this fiscal year. The brokerage has a price target of $30 on Actuant’s stock. The number of asset managers from our system with equity stakes in the industrial-product marker jumped to 16 from nine during the third quarter. Mason Hawkins’ Southeastern Asset Management reported owning 6.41 million shares of Actuant Corporation (NYSE:ATU) in its last 13F filing.

The final page of this insider trading article will discuss fresh insider selling observed at two other companies.