Hantz Financial Services Inc. Has $40.74 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Hantz Financial Services Inc. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,682 shares of the software company's stock after purchasing an additional 9,519 shares during the period. Adobe comprises approximately 0.7% of Hantz Financial Services Inc.'s holdings, making the stock its 27th biggest holding. Hantz Financial Services Inc.'s holdings in Adobe were worth $40,740,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Piscataqua Savings Bank lifted its position in 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. acquired a new position in Adobe during the 3rd quarter worth about $30,000. Summit Securities Group LLC acquired a new position in Adobe during the 2nd quarter worth about $33,000. Lynx Investment Advisory acquired a new position in Adobe during the 2nd quarter worth about $39,000. Finally, Briaud Financial Planning Inc acquired a new position in Adobe during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company's stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the completion of the sale, the executive vice president now directly owns 18,831 shares of the company's stock, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their position. 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 quarter. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America reissued a "buy" rating and set a $640.00 price objective on shares of Adobe in a report on Friday, September 13th. Barclays boosted their price objective on Adobe from $650.00 to $675.00 and gave the stock an "overweight" rating in a report on Wednesday, September 4th. Argus raised Adobe to a "strong-buy" rating in a report on Monday, September 16th. StockNews.com raised Adobe from a "hold" rating to a "buy" rating in a report on Friday, September 13th. Finally, Citigroup boosted their price objective on Adobe from $550.00 to $621.00 and gave the stock a "neutral" rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $606.40.

Adobe Stock Up 0.4 %

NASDAQ:ADBE traded up $2.25 during trading hours on Friday, reaching $515.93. 1,450,247 shares of the stock were exchanged, compared to its average volume of 3,134,702. Adobe Inc. has a twelve month low of $433.97 and a twelve month high of $638.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day moving average of $503.01 and a 200 day moving average of $519.95. The stock has a market cap of $227.11 billion, a PE ratio of 43.58, a PEG ratio of 2.65 and a beta of 1.30.

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

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.