Dimensional Fund Advisors LP Has $945.78 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Dimensional Fund Advisors LP raised its position in Adobe Inc. (NASDAQ:ADBE) by 12.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,702,535 shares of the software company’s stock after purchasing an additional 185,737 shares during the quarter. Dimensional Fund Advisors LP owned 0.38% of Adobe worth $945,780,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Tradewinds Capital Management LLC lifted its stake in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Adobe by 346.2% in the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe in the second quarter worth $33,000. Lynx Investment Advisory acquired a new position in Adobe during the second quarter worth $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Adobe in the 2nd quarter valued at $39,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 8.5 %

Shares of Adobe stock opened at $536.87 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50-day moving average of $553.76 and a 200-day moving average of $519.73. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25. The stock has a market cap of $238.05 billion, a PE ratio of 48.24, a PEG ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. 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 previous year, the firm posted $3.26 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Adobe Inc. will post 14.69 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Barclays raised their price target on Adobe from $650.00 to $675.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Mizuho reiterated a “buy” rating and set a $640.00 price objective (down previously from $680.00) on shares of Adobe in a research note on Friday, June 7th. UBS Group decreased their target price on shares of Adobe from $560.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. raised shares of Adobe from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $570.00 to $580.00 in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.58.

Insider Buying and Selling

In other news, CAO Mark S. Garfield sold 151 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at approximately $1,579,186.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 151 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $564.60, for a total transaction of $85,254.60. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $537.00, for a total value of $258,297.00. Following the sale, the executive vice president now owns 19,658 shares of the company’s stock, valued at $10,556,346. The disclosure for this sale can be found here. Insiders have sold 27,259 shares of company stock valued at $14,855,543 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

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.