Dimensional Fund Advisors LP Reduces Stake in Adobe Inc. (NASDAQ:ADBE)

Dimensional Fund Advisors LP cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,907,335 shares of the software company’s stock after selling 21,422 shares during the period. Dimensional Fund Advisors LP owned 0.44% of Adobe worth $848,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Decker Retirement Planning Inc. bought a new position in Adobe in the 4th quarter worth $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the 4th quarter worth approximately $31,000. Caitlin John LLC raised its position in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth lifted its stake in shares of Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC boosted its position in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.3 %

Shares of ADBE stock opened at $348.80 on Friday. The stock has a market capitalization of $148.66 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The stock’s 50-day moving average price is $403.54 and its 200-day moving average price is $450.43. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the firm earned $4.48 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. Robert W. Baird decreased their target price on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic started coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group dropped their target price on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.27.

Insider Buying and Selling

In other news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% 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.