Integral Investment Advisors Inc. Sells 131 Shares of Adobe Inc. (NASDAQ:ADBE)

Integral Investment Advisors Inc. lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,547 shares of the software company’s stock after selling 131 shares during the period. Integral Investment Advisors Inc.’s holdings in Adobe were worth $923,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Rockland Trust Co. boosted its holdings in Adobe by 4.1% in the third quarter. Rockland Trust Co. now owns 1,106 shares of the software company’s stock valued at $564,000 after acquiring an additional 44 shares during the last quarter. Mainsail Financial Group LLC boosted its holdings in Adobe by 9.6% in the fourth quarter. Mainsail Financial Group LLC now owns 2,100 shares of the software company’s stock valued at $1,252,000 after acquiring an additional 184 shares during the last quarter. Team Hewins LLC bought a new position in Adobe during the third quarter worth about $4,141,000. Guinness Asset Management LTD boosted its holdings in Adobe by 5.9% during the third quarter. Guinness Asset Management LTD now owns 44,586 shares of the software company’s stock worth $22,734,000 after buying an additional 2,499 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD boosted its holdings in Adobe by 36.7% during the third quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD now owns 6,969 shares of the software company’s stock worth $3,544,000 after buying an additional 1,871 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.4 %

Shares of NASDAQ ADBE traded down $1.93 during trading on Thursday, hitting $472.52. The stock had a trading volume of 1,495,996 shares, compared to its average volume of 3,563,117. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $211.69 billion, a PE ratio of 45.55, a PEG ratio of 2.58 and a beta of 1.28. The firm has a fifty day moving average of $533.19 and a two-hundred day moving average of $566.97.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.38 by $0.10. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 788 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $615.42, for a total value of $484,950.96. Following the sale, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at $2,495,528.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Scott Belsky sold 2,191 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total value of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at $14,144,998.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 788 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at $2,495,528.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,075 shares of company stock valued at $1,848,418. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADBE. JPMorgan Chase & Co. lowered their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Barclays reduced their price target on Adobe from $700.00 to $630.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. HSBC decreased their price target on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research note on Friday, March 15th. Oppenheimer reaffirmed an “outperform” rating and set a $660.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Finally, DA Davidson reaffirmed a “buy” rating and set a $685.00 price target on shares of Adobe in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $620.72.

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.