Integral Investment Advisors Inc. Buys 159 Shares of Adobe Inc. (NASDAQ:ADBE)

Integral Investment Advisors Inc. raised its position in Adobe Inc. (NASDAQ:ADBE) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,782 shares of the software company’s stock after acquiring an additional 159 shares during the period. Integral Investment Advisors Inc.’s holdings in Adobe were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Connable Office Inc. raised its stake in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after acquiring an additional 20 shares during the period. 1ST Source Bank raised its position in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares during the period. James J. Burns & Company LLC raised its position in shares of Adobe by 5.6% in the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after purchasing an additional 22 shares during the period. Holistic Financial Partners raised its position in shares of Adobe by 6.0% in the third quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after purchasing an additional 22 shares during the period. Finally, Latitude Advisors LLC raised its holdings in Adobe by 4.3% during the 3rd quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock valued at $287,000 after acquiring an additional 23 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research analyst reports. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $590.00 target price on shares of Adobe in a research note on Thursday, February 13th. Wells Fargo & Company reduced their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last 90 days. 0.15% of the stock is currently owned by insiders.

Adobe Trading Down 2.3 %

NASDAQ:ADBE opened at $444.32 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day simple moving average is $440.46 and its 200 day simple moving average is $494.02. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The firm has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The business 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 company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.52 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.