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Is Adobe Inc (ADBE) a good stock to buy now?

Adobe Inc (NASDAQ: ADBE) is -16.32% 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 $502.09 in the last trading session, with the day’s loss setting it -2.88%.

Currently trading at $499.21, the stock is -6.08% and -12.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.08 million and changing -0.57% at the moment leaves the stock -9.78% off its SMA200. ADBE registered 30.72% gain for a year compared to 6-month gain of -2.10%. The firm has a 50-day simple moving average (SMA 50) of $11.08 and a 200-day simple moving average (SMA200) of $30.90.

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The stock witnessed a -12.56% loss in the last 1 month and extending the period to 3 months gives it a -16.32%, and is -1.58% 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 2.09% over the week and 2.61% over the month.

Adobe Inc (ADBE) has around 29945 employees, a market worth around $223.65B and $19.92B in sales. Current P/E ratio is 47.69 and Fwd P/E is 24.54. Profit margin for the company is 24.11%. Distance from 52-week low is 50.41% and -21.78% 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 $4.39 with sales reaching $5.29B over the same period.The EPS is expected to grow by 12.06% this year, but quarterly earnings will post 20.00% year-over-year.

Adobe Inc (ADBE) Top Institutional Holders

3,809 institutions hold shares in Adobe Inc (ADBE), with institutional investors hold 87.85% of the company’s shares. The shares outstanding are 455.00M, and float is at 444.96M with Short Float at 1.15%. Institutions hold 87.67% 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).

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