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

Hantz Financial Services Inc. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,481 shares of the software company’s stock after selling 3,201 shares during the quarter. Hantz Financial Services Inc.’s holdings in Adobe were worth $33,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nvest Financial LLC lifted its holdings in Adobe by 5.7% in the fourth quarter. Nvest Financial LLC now owns 1,979 shares of the software company’s stock valued at $880,000 after buying an additional 106 shares during the period. Foster Victor Wealth Advisors LLC raised its position in shares of Adobe by 26.1% during the 4th quarter. Foster Victor Wealth Advisors LLC now owns 51,651 shares of the software company’s stock valued at $22,209,000 after acquiring an additional 10,690 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Adobe by 21.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 494,915 shares of the software company’s stock valued at $220,079,000 after purchasing an additional 85,820 shares during the period. R Squared Ltd bought a new position in shares of Adobe in the 4th quarter worth $141,000. Finally, Deane Retirement Strategies Inc. grew its stake in shares of Adobe by 119.8% during the fourth quarter. Deane Retirement Strategies Inc. now owns 8,120 shares of the software company’s stock worth $3,611,000 after purchasing an additional 4,426 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group cut their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Sanford C. Bernstein cut their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group cut their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Adobe Stock Performance

ADBE opened at $442.70 on Wednesday. The business’s 50-day simple moving average is $465.79 and its 200 day simple moving average is $505.60. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $192.71 billion, a PE ratio of 35.70, a PEG ratio of 2.12 and a beta of 1.31.

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

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is currently owned by insiders.

About Adobe

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.