2,945 institutions hold shares in Adobe Inc. (ADBE), with 1.41M shares held by insiders accounting for 0.30% while institutional investors hold 86.04% of the company’s shares. The shares outstanding are 479.00M, and float is at 476.43M with Short Float at 1.09%. Institutions hold 85.79% of the Float.
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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 38.28 million shares valued at $19.15 billion. The investor’s holdings represent 8.01% of the ADBE Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 37.77 million shares valued at $18.89 billion to account for 7.90% of the shares outstanding. The other top investors are FMR, LLC which holds 26.49 million shares representing 5.54% and valued at over $13.25 billion, while State Street Corporation holds 4.02% of the shares totaling 19.23 million with a market value of $9.62 billion.
Adobe Inc. (NASDAQ: ADBE) is 2.44% higher on its value in year-to-date trading and has touched a low of $325.21 and a high of $536.88 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ADBE stock was last observed hovering at around $514.21 in the last trading session, with the day’s loss setting it -1.87% off its average median price target of $575.00 for the next 12 months. It is also 16.01% off the consensus price target high of $610.00 offered by 26 analysts, but current levels are -0.46% lower than the price target low of $510.00 for the same period.
Currently trading at $512.34, the stock is 4.39% and 7.98% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.64 million and changing -0.36% at the moment leaves the stock 7.98% off its SMA200. ADBE registered 55.73% gain for a year compared to 6-month loss of 3.46%. The firm has a 50-day simple moving average (SMA 50) of $471.15 and a 200-day simple moving average (SMA200) of $478.14.
The stock witnessed a 13.25% gain in the last 1 month and extending the period to 3 months gives it a 9.07%, and is 0.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.50% over the week and 2.10% over the month.
Adobe Inc. (ADBE) has around 22516 employees, a market worth around $244.04B and $13.68B in sales. Current P/E ratio is 44.49 and Fwd P/E is 37.44. Profit margin for the company is 40.70%. Distance from 52-week low is 57.54% and -4.57% from its 52-week high. The company has generated returns on investments over the last 12 months (30.60%).
Adobe Inc. (ADBE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Adobe Inc. (ADBE) is a “Overweight”. 26 analysts offering their recommendations for the stock have an average rating of 1.80, where 6 rate it as a Hold and 2 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Adobe Inc. is expected to release its quarterly report on 06/17/2021 and quarterly earnings per share for the current quarter are estimated at $2.81 with sales reaching $3.73B over the same period.The EPS is expected to grow by 80.50% this year, but quarterly earnings will post 20.20% year-over-year. Quarterly sales are estimated to grow 17.90% in year-over-year returns.
Adobe Inc. (ADBE) Insider Activity
A total of 147 insider transactions have happened at Adobe Inc. (ADBE) in the last six months, with sales accounting for 99 and purchases happening 48 times. The most recent transaction is an insider sale by WARNOCK JOHN E, the company’s Director. SEC filings show that WARNOCK JOHN E sold 2,500 shares of the company’s common stock on Apr 19 at a price of $517.25 per share for a total of $1.29 million. Following the sale, the insider now owns 0.42 million shares.
Adobe Inc. disclosed in a document filed with the SEC on Apr 15 that Parasnis Abhay (EVP, CTO, Document Cloud) sold a total of 4,000 shares of the company’s common stock. The trade occurred on Apr 15 and was made at $524.00 per share for $2.1 million. Following the transaction, the insider now directly holds 39746.0 shares of the ADBE stock.
Still, SEC filings show that on Mar 25, Belsky Scott (EVP, CPO, Creative Cloud) disposed off 600 shares at an average price of $448.63 for $0.27 million. The insider now directly holds 27,757 shares of Adobe Inc. (ADBE).
Adobe Inc. (ADBE): Who are the competitors?
The company’s main competitors (and peers) include salesforce.com inc. (CRM) that is trading 53.13% up over the past 12 months. Nuance Communications Inc. (NUAN) is 187.06% up on the 1-year trading charts. Short interest in the company’s stock has fallen -8.79% from the last report on Mar 30, 2021 to stand at a total of 5.2 million short shares sold with a short interest ratio of 1.58.