Oxford Financial Group LTD. LLC Lowers Stock Position in Adobe Inc. (NASDAQ:ADBE)

Oxford Financial Group LTD. LLC cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 39.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 581 shares of the software company’s stock after selling 371 shares during the quarter. Oxford Financial Group LTD. LLC’s holdings in Adobe were worth $258,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB boosted its position in Adobe by 0.3% in 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 last quarter. United Bank grew its position in Adobe by 19.7% during the third quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after buying an additional 428 shares during the period. Avior Wealth Management LLC increased its holdings in Adobe by 29.1% during the third quarter. Avior Wealth Management LLC now owns 789 shares of the software company’s stock worth $409,000 after buying an additional 178 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Adobe in the third quarter worth about $1,099,000. Finally, LPL Financial LLC boosted its stake in Adobe by 0.3% in the third quarter. LPL Financial LLC now owns 426,883 shares of the software company’s stock valued at $221,032,000 after acquiring an additional 1,443 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 0.6 %

ADBE opened at $387.26 on Friday. 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 business’s fifty day simple moving average is $434.16 and its 200 day simple moving average is $476.46. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The stock has a market cap of $168.62 billion, a PE ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the firm posted $4.48 EPS. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ADBE shares. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday. UBS Group set a $495.00 target price on Adobe in a research note on Thursday, March 13th. Bank of America dropped their price target on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus decreased their price objective on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus price target of $538.80.

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.