Kintegral Advisory LLC Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Kintegral Advisory LLC lowered its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 32.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,921 shares of the software company's stock after selling 4,867 shares during the period. Kintegral Advisory LLC's holdings in Adobe were worth $3,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH boosted its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new position in Adobe in the 1st quarter worth approximately $26,000. SWAN Capital LLC acquired a new position in shares of Adobe during the 4th quarter worth approximately $28,000. Copia Wealth Management purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Up 0.3%

ADBE traded up $1.09 during trading hours on Friday, hitting $379.56. 2,863,680 shares of the company's stock were exchanged, compared to its average volume of 3,430,343. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The firm has a market cap of $161.01 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51. The firm has a 50 day moving average of $395.85 and a 200 day moving average of $408.79.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The software company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a return on equity of 53.68% and a net margin of 30.39%. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.80 billion. During the same period last year, the firm earned $4.48 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADBE shares. Citigroup lowered their price objective on Adobe from $465.00 to $450.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $470.00 price objective (up previously from $430.00) on shares of Adobe in a report on Friday, June 13th. Robert W. Baird lifted their target price on shares of Adobe from $410.00 to $425.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $480.08.

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.