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

Oxbow Advisors LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,655 shares of the software company’s stock after acquiring an additional 1,690 shares during the quarter. Adobe comprises approximately 1.4% of Oxbow Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Oxbow Advisors LLC’s holdings in Adobe were worth $12,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Vise Technologies Inc. lifted its holdings in Adobe by 267.3% in the fourth quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock valued at $4,635,000 after acquiring an additional 5,654 shares during the period. Steph & Co. raised its holdings in Adobe by 63.8% in the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the period. International Assets Investment Management LLC boosted its position in Adobe by 16.2% during the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock worth $1,435,000 after purchasing an additional 398 shares in the last quarter. Choreo LLC grew its holdings in Adobe by 4.7% in the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock valued at $2,236,000 after purchasing an additional 197 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Adobe by 14.7% in the fourth quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock valued at $14,557,000 after buying an additional 3,120 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at $1,439,897.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CEO Shantanu Narayen sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the transaction, the chief executive officer now directly owns 379,660 shares in the company, valued at $206,576,802.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $525.51, for a total value of $138,734.64. Following the transaction, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,523 shares of company stock worth $14,994,277. 0.15% of the stock is currently owned by insiders.

Adobe Trading Down 0.8 %

NASDAQ:ADBE traded down $4.52 on Friday, reaching $563.41. The company’s stock had a trading volume of 2,096,790 shares, compared to its average volume of 3,173,966. Adobe Inc. has a 12-month low of $433.97 and a 12-month high of $638.25. The stock has a 50 day moving average price of $553.72 and a 200 day moving average price of $519.38. The firm has a market cap of $249.82 billion, a price-to-earnings ratio of 50.62, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. Adobe’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. On average, equities analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADBE shares. Citigroup dropped their price target on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $600.00 target price on shares of Adobe in a research report on Thursday, August 1st. BMO Capital Markets upped their price target on shares of Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Melius Research reaffirmed a “hold” rating and issued a $510.00 price target on shares of Adobe in a research note on Monday, June 10th. Finally, Sanford C. Bernstein boosted their price objective on Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $605.52.

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.