Hantz Financial Services Inc. Sells 3,201 Shares of Adobe Inc. (NASDAQ:ADBE)

Hantz Financial Services Inc. decreased its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,481 shares of the software company's stock after selling 3,201 shares during the period. Hantz Financial Services Inc.'s holdings in Adobe were worth $33,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Piscataqua Savings Bank raised its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Adobe during the third quarter valued at $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter worth about $30,000. Finally, True Wealth Design LLC raised its holdings in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADBE. Piper Sandler cut their price target on Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company cut their price target on shares of Adobe from $700.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $573.00.

Adobe Price Performance

Shares of ADBE traded down $1.16 during trading hours on Wednesday, reaching $441.68. 2,993,831 shares of the company's stock traded hands, compared to its average volume of 4,004,716. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $192.26 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The firm's 50 day simple moving average is $465.79 and its 200-day simple moving average is $505.60.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.52 earnings per share. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares of the company's stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. Corporate insiders own 0.15% of the company's stock.

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.