Kintegral Advisory LLC Has $6.58 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Kintegral Advisory LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,788 shares of the software company’s stock after selling 689 shares during the quarter. Kintegral Advisory LLC’s holdings in Adobe were worth $6,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ADBE. Swedbank AB increased its stake in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring 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 worth $258,000 after purchasing an additional 119 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Adobe by 25.8% in the third quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after purchasing an additional 246 shares in the last quarter. Romano Brothers AND Company boosted its holdings in Adobe by 10.8% in the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock worth $717,000 after purchasing an additional 135 shares in the last quarter. Finally, Mcdaniel Terry & Co. boosted its holdings in Adobe by 2.5% in the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock worth $19,340,000 after purchasing an additional 924 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders 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 12-month low of $403.75 and a 12-month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $193.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. The firm has a 50-day moving average price of $440.46 and a 200 day moving average price of $494.16.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday. They issued a “neutral” rating for the company. DA Davidson decreased their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.