Adobe Inc (NASDAQ: ADBE) is -14.92% lower on its value in year-to-date trading and has touched a low of $331.89 and a high of $638.25 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ADBE stock was last observed hovering at around $507.23 in the last trading session, with the day’s gains setting it 0.37%.
Currently trading at $507.60, the stock is -6.41% and -11.90% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.8 million and changing 0.07% at the moment leaves the stock -8.12% off its SMA200. ADBE registered 35.37% gain for a year compared to 6-month gain of -0.78%. The firm has a 50-day simple moving average (SMA 50) of $11.39 and a 200-day simple moving average (SMA200) of $31.77.
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The stock witnessed a -9.43% loss in the last 1 month and extending the period to 3 months gives it a -15.22%, and is -2.61% down 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 2.51% over the week and 2.59% over the month.
Adobe Inc (ADBE) has around 29945 employees, a market worth around $229.71B and $19.92B in sales. Current P/E ratio is 48.49 and Fwd P/E is 24.96. Profit margin for the company is 24.11%. Distance from 52-week low is 52.94% and -20.47% from its 52-week high. The company has generated returns on investments over the last 12 months (26.71%).
Adobe Inc quarterly earnings per share for the current quarter are estimated at $4.06 with sales reaching $4.89B over the same period.The EPS is expected to grow by 12.07% this year, but quarterly earnings will post 11.00% year-over-year.
Adobe Inc (ADBE) Top Institutional Holders
3,836 institutions hold shares in Adobe Inc (ADBE), with institutional investors hold 87.04% of the company’s shares. The shares outstanding are 455.00M, and float is at 449.48M with Short Float at 1.20%. Institutions hold 86.87% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 39.67 million shares valued at $19.4 billion. The investor’s holdings represent 8.71% of the ADBE Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 36.61 million shares valued at $17.9 billion to account for 8.04% of the shares outstanding. The other top investors are State Street Corporation which holds 18.86 million shares representing 4.14% and valued at over $9.22 billion, while FMR, LLC holds 2.31% of the shares totaling 10.51 million with a market value of $5.14 billion.
Adobe Inc (ADBE) Insider Activity
The most recent transaction is an insider sale by Garfield Mark S.,the company’sSVP & CAO. SEC filings show that Garfield Mark S. sold 263 shares of the company’s common stock on Mar 18 ’24 at a price of $496.68 per share for a total of $0.13 million. Following the sale, the insider now owns 4073.0 shares.
Adobe Inc disclosed in a document filed with the SEC on Jan 25 ’24 that Belsky Scott (Chief Strategy Officer & EVP) sold a total of 864 shares of the company’s common stock. The trade occurred on Jan 25 ’24 and was made at $615.42 per share for $0.53 million. Following the transaction, the insider now directly holds 22644.0 shares of the ADBE stock.
Still, SEC filings show that on Jan 25 ’24, Garfield Mark S. (SVP & CAO) disposed off 788 shares at an average price of $615.42 for $0.48 million. The insider now directly holds 4,055 shares of Adobe Inc (ADBE).
