Oregon Pacific Wealth Management LLC Buys New Shares in Adobe Inc. (NASDAQ:ADBE)

Oregon Pacific Wealth Management LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 720 shares of the software company's stock, valued at approximately $320,000.

Several other hedge funds also recently made changes to their positions in the company. Piscataqua Savings Bank boosted its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Adobe during the third quarter worth about $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the third quarter valued at about $30,000. Finally, True Wealth Design LLC lifted its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ:ADBE traded down $2.60 during trading hours on Wednesday, reaching $437.63. 2,937,699 shares of the company's stock were exchanged, compared to its average volume of 3,869,652. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. The company has a market capitalization of $190.50 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The business's 50-day simple moving average is $458.66 and its two-hundred day simple moving average is $501.38.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.52 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the business's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company's stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Company insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ADBE. Bank of America reduced their price objective on Adobe from $640.00 to $605.00 and set a "buy" rating for the company in a report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Adobe from $600.00 to $570.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. Oppenheimer cut their target price on shares of Adobe from $625.00 to $600.00 and set an "outperform" 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 on the stock in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group cut their price objective on Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $573.00.

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.