Oxford Wealth Group LLC Purchases 474 Shares of Adobe Inc. (NASDAQ:ADBE)

Oxford Wealth Group LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 16.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,313 shares of the software company’s stock after buying an additional 474 shares during the quarter. Adobe comprises about 1.0% of Oxford Wealth Group LLC’s investment portfolio, making the stock its 22nd largest position. Oxford Wealth Group LLC’s holdings in Adobe were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADBE. MGO One Seven LLC raised its holdings in Adobe by 12.4% in the 4th quarter. MGO One Seven LLC now owns 7,193 shares of the software company’s stock worth $3,199,000 after purchasing an additional 791 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of Adobe by 10.8% during the fourth quarter. Dark Forest Capital Management LP now owns 1,408 shares of the software company’s stock valued at $626,000 after buying an additional 137 shares during the period. Alta Advisers Ltd raised its stake in Adobe by 12.2% in the fourth quarter. Alta Advisers Ltd now owns 1,458 shares of the software company’s stock worth $648,000 after buying an additional 158 shares in the last quarter. Anomaly Capital Management LP lifted its holdings in Adobe by 210.4% in the fourth quarter. Anomaly Capital Management LP now owns 118,993 shares of the software company’s stock worth $52,914,000 after buying an additional 80,663 shares during the period. Finally, Fayez Sarofim & Co boosted its position in Adobe by 8.6% during the 4th quarter. Fayez Sarofim & Co now owns 622,523 shares of the software company’s stock valued at $279,761,000 after acquiring an additional 49,250 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, Director David A. Ricks acquired 2,250 shares of the stock in a transaction dated 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 transaction, 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 is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $349.91 on Wednesday. The company has a 50-day moving average price of $398.97 and a 200-day moving average price of $447.84. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $149.13 billion, a P/E ratio of 28.22, 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 for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm earned $4.48 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

ADBE has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their target price on shares of Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Morgan Stanley dropped their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $506.73.

About Adobe

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.