Adobe Inc. (NASDAQ:ADBE) Shares Sold by Oxbow Advisors LLC

Oxbow Advisors LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,843 shares of the software company’s stock after selling 398 shares during the period. Adobe accounts for 1.1% of Oxbow Advisors LLC’s portfolio, making the stock its 17th biggest position. Oxbow Advisors LLC’s holdings in Adobe were worth $9,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ADBE. Swedbank AB raised its holdings in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the period. McAdam LLC grew its position in shares of Adobe by 31.4% during the third quarter. McAdam LLC now owns 498 shares of the software company’s stock worth $258,000 after acquiring an additional 119 shares during the last quarter. YHB Investment Advisors Inc. grew its position in shares of Adobe by 25.8% during the third quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after acquiring an additional 246 shares during the last quarter. Romano Brothers AND Company grew its position in shares of Adobe by 10.8% during the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock worth $717,000 after acquiring an additional 135 shares during the last quarter. Finally, Mcdaniel Terry & Co. grew its position in shares of Adobe by 2.5% during the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock worth $19,340,000 after acquiring an additional 924 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of ADBE opened at $444.32 on Friday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The firm’s 50 day moving average is $440.46 and its 200-day moving average is $494.16. The stock has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the company posted $3.52 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several recent research reports. DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Bank of America lowered their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

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.