Lantz Financial LLC Sells 141 Shares of Adobe Inc. (NASDAQ:ADBE)

Lantz Financial LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 16.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 693 shares of the software company’s stock after selling 141 shares during the quarter. Lantz Financial LLC’s holdings in Adobe were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ADBE. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe in the third quarter worth $30,000. Finally, True Wealth Design LLC increased its position in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. DA Davidson cut their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

ADBE stock opened at $435.38 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The firm has a market capitalization of $189.52 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a fifty day simple moving average of $468.14 and a two-hundred day simple moving average of $508.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the business posted $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.