Adobe Inc. (NASDAQ:ADBE) Shares Sold by Oxford Asset Management LLP

Oxford Asset Management LLP lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 33.7% during the 4th quarter, HoldingsChannel reports. The firm owned 523 shares of the software company’s stock after selling 266 shares during the quarter. Oxford Asset Management LLP’s holdings in Adobe were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ADBE. Nordea Investment Management AB increased its holdings in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares in the last quarter. Arizona State Retirement System grew its holdings in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after purchasing an additional 570 shares during the period. Burling Wealth Partners LLC purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $1,173,000. Wealth Enhancement Advisory Services LLC grew its stake in Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after acquiring an additional 1,326 shares during the period. Finally, M. Kraus & Co purchased a new stake in Adobe in the 4th quarter worth $3,285,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Redburn Atlantic began coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Mizuho decreased their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company reduced their price objective on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Stock Up 1.9 %

Shares of NASDAQ:ADBE opened at $367.72 on Monday. The business has a 50-day moving average price of $392.89 and a 200 day moving average price of $444.67. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. 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 company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm earned $4.48 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is owned by 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.