Integral Investment Advisors Inc. Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Integral Investment Advisors Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 18.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,307 shares of the software company’s stock after purchasing an additional 525 shares during the period. Integral Investment Advisors Inc.’s holdings in Adobe were worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Terra Alpha Investments LLC raised its stake in shares of Adobe by 4.7% during the first quarter. Terra Alpha Investments LLC now owns 4,207 shares of the software company’s stock worth $1,614,000 after purchasing an additional 190 shares during the last quarter. Petredis Investment Advisors LLC raised its position in Adobe by 2.5% during the 1st quarter. Petredis Investment Advisors LLC now owns 7,780 shares of the software company’s stock worth $2,984,000 after buying an additional 193 shares during the last quarter. Abacus FCF Advisors LLC raised its position in Adobe by 124.9% during the 1st quarter. Abacus FCF Advisors LLC now owns 43,207 shares of the software company’s stock worth $16,571,000 after buying an additional 23,995 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of Adobe by 135.4% in the 1st quarter. Simplicity Wealth LLC now owns 2,611 shares of the software company’s stock worth $1,001,000 after acquiring an additional 1,502 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Adobe by 22.3% in the first quarter. GAMMA Investing LLC now owns 7,798 shares of the software company’s stock valued at $2,991,000 after acquiring an additional 1,422 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ADBE shares. Citigroup dropped their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Summit Redstone set a $410.00 price objective on Adobe in a report on Wednesday, March 19th. Jefferies Financial Group cut their target price on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Mizuho reduced their price target on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Eleven 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 company’s stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $504.81.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Down 0.2%

ADBE stock opened at $416.26 on Tuesday. 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 $382.02 and its 200-day simple moving average is $423.49. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The firm has a market capitalization of $177.41 billion, a PE ratio of 33.57, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm 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 quarter in the prior year, the firm earned $4.48 EPS. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.