Integrated Investment Consultants LLC Raises Stock Position in Adobe Inc. (NASDAQ:ADBE)

Integrated Investment Consultants LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 45.3% in the third quarter, Holdings Channel reports. The firm owned 632 shares of the software company’s stock after buying an additional 197 shares during the period. Integrated Investment Consultants LLC’s holdings in Adobe were worth $327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe during the 3rd quarter valued at about $30,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the 2nd quarter valued at about $33,000. Lynx Investment Advisory purchased a new stake in shares of Adobe in the 2nd quarter worth approximately $39,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Adobe in the 3rd quarter worth approximately $36,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company’s stock, valued at $186,569,166. This trade represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ADBE shares. Stifel Nicolaus boosted their price objective on shares of Adobe from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Barclays boosted their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday, September 13th. UBS Group reduced their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Sanford C. Bernstein lowered their price target on shares of Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $606.40.

Adobe Price Performance

NASDAQ:ADBE opened at $512.15 on Friday. The firm’s fifty day moving average is $503.13 and its two-hundred day moving average is $518.84. The firm has a market cap of $225.45 billion, a price-to-earnings ratio of 43.26, a PEG ratio of 2.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.26 earnings per share. Research analysts expect that Adobe Inc. will post 14.82 EPS for the current 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.