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

Dimensional Fund Advisors LP lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,702,535 shares of the software company’s stock after buying an additional 185,737 shares during the period. Dimensional Fund Advisors LP’s holdings in Adobe were worth $945,780,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Adobe by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 40,648,975 shares of the software company’s stock worth $20,511,473,000 after purchasing an additional 382,803 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Adobe by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,644,050 shares of the software company’s stock worth $3,857,189,000 after purchasing an additional 1,146,718 shares during the last quarter. Concentrum Wealth Management increased its stake in shares of Adobe by 11.3% in the fourth quarter. Concentrum Wealth Management now owns 2,405,622 shares of the software company’s stock valued at $1,435,194,000 after buying an additional 244,008 shares during the period. Wellington Management Group LLP raised its holdings in Adobe by 1,213.5% in the 4th quarter. Wellington Management Group LLP now owns 2,024,438 shares of the software company’s stock valued at $1,207,780,000 after buying an additional 1,870,307 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Adobe by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 1,975,509 shares of the software company’s stock worth $1,097,475,000 after buying an additional 12,065 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADBE. Stifel Nicolaus raised their price target on shares of Adobe from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Friday. Wells Fargo & Company upped their price target on Adobe from $675.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Piper Sandler restated an “overweight” rating and set a $635.00 price objective on shares of Adobe in a research report on Friday. Finally, Sanford C. Bernstein reduced their target price on Adobe from $660.00 to $644.00 and set an “outperform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $606.58.

Adobe Stock Performance

ADBE opened at $536.87 on Monday. Adobe Inc. has a 1-year low of $433.97 and a 1-year high of $638.25. The company has a market cap of $238.05 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 3.03 and a beta of 1.29. The company’s fifty day moving average price is $553.76 and its two-hundred day moving average price is $519.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last posted its 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. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.26 EPS. On average, analysts expect that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Insider Transactions at Adobe

In related news, CAO Mark S. Garfield sold 97 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 transaction of $52,089.00. Following the completion of the sale, the chief accounting officer now owns 2,797 shares in the company, valued at $1,501,989. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the completion of the sale, the chief executive officer now owns 379,660 shares of the company’s stock, valued at approximately $206,576,802.60. The disclosure for this sale can be found here. Insiders sold a total of 27,259 shares of company stock valued at $14,855,543 over the last ninety days. 0.15% of the stock is currently owned by insiders.

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.