Integral Investment Advisors Inc. Raises Stake in Adobe Inc. (NASDAQ:ADBE)

Integral Investment Advisors Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,782 shares of the software company’s stock after buying an additional 159 shares during the period. Integral Investment Advisors Inc.’s holdings in Adobe were worth $1,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Swedbank AB boosted its position in Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after buying an additional 3,739 shares during the last quarter. McAdam LLC boosted its holdings in Adobe by 31.4% in the third quarter. McAdam LLC now owns 498 shares of the software company’s stock valued at $258,000 after purchasing an additional 119 shares during the last quarter. Sigma Investment Counselors Inc. boosted its stake in shares of Adobe by 13.1% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 9,495 shares of the software company’s stock valued at $4,916,000 after buying an additional 1,097 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Adobe by 1.4% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,824 shares of the software company’s stock valued at $1,980,000 after buying an additional 51 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. boosted its stake in Adobe by 98.5% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 8,363 shares of the software company’s stock valued at $4,330,000 after acquiring an additional 4,150 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADBE shares. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Bank of America reduced their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler reduced their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price 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 $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $444.32 on Friday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $193.41 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. The stock’s 50-day moving average is $440.46 and its 200-day moving average is $494.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.52 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.