Dimensional Fund Advisors LP Trims Holdings in Adobe Inc. (NASDAQ:ADBE)

Dimensional Fund Advisors LP reduced its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,907,335 shares of the software company's stock after selling 21,422 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.44% of Adobe worth $848,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank purchased a new stake in Adobe during the fourth quarter valued at about $2,553,035,000. Edgewood Management LLC raised its holdings in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock valued at $1,805,009,000 after buying an additional 696,172 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Adobe by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock worth $1,249,066,000 after buying an additional 92,458 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Adobe by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company's stock worth $1,235,157,000 after purchasing an additional 163,983 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent analyst reports. Stifel Nicolaus cut their target price on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Evercore ISI dropped their target price on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada cut their target price on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Mizuho lowered their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Finally, Redburn Atlantic began coverage on Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $502.88.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 over the last quarter. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

Adobe stock traded up $4.62 during midday trading on Wednesday, reaching $354.53. 1,641,696 shares of the company traded hands, compared to its average volume of 3,415,667. The business has a 50 day moving average of $398.97 and a two-hundred day moving average of $447.84. The firm has a market capitalization of $151.10 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the prior year, the business earned $4.48 earnings per share. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.