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Adobe Inc (ADBE) Is Now En Route to Higher Prices

Adobe Inc (NASDAQ: ADBE) is -15.72% lower on its value in year-to-date trading and has touched a low of $433.97 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 $517.78 in the last trading session, with the day’s loss setting it -14.98%.

Currently trading at $502.80, the stock is -7.21% and -7.57% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.72 million and changing -2.89% at the moment leaves the stock -6.67% off its SMA200. ADBE registered -1.39% loss for a year compared to 6-month gain of 0.72%. The firm has a 50-day simple moving average (SMA 50) of $542.9528 and a 200-day simple moving average (SMA200) of $538.1486.

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The stock witnessed a -12.47% loss in the last 1 month and extending the period to 3 months gives it a -11.43%, and is -4.06% 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 1.84% over the week and 2.26% over the month.

Adobe Inc (ADBE) has around 29945 employees, a market worth around $221.33B and $20.94B in sales. Current P/E ratio is 42.46 and Fwd P/E is 24.49. Profit margin for the company is 25.59%. Distance from 52-week low is 15.86% and -21.22% from its 52-week high. The company has generated returns on investments over the last 12 months (28.13%).

with sales reaching $5.54B over the same period.The EPS is expected to grow by 13.67% this year, but quarterly earnings will post 19.90% year-over-year. Quarterly sales are estimated to grow 19.10% in year-over-year returns.

Adobe Inc (ADBE) Top Institutional Holders

3769.0 institutions hold shares in Adobe Inc (ADBE), with institutional investors hold 87.41% of the company’s shares. The shares outstanding are 455.00M, and float is at 438.41M with Short Float at 1.38%. Institutions hold 87.22% of the Float.

The top institutional shareholder in the company is VANGUARD GROUP INC with over 41.03 million shares valued at $22.8 billion. The investor’s holdings represent 9.1386% of the ADBE Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 38.57 million shares valued at $21.43 billion to account for 8.5908 of the shares outstanding. The other top investors are STATE STREET CORP which holds 20.04 million shares representing 4.4622% and valued at over $11.13 billion, while GEODE CAPITAL MANAGEMENT, LLC holds 2.3121 of the shares totaling 10.38 million with a market value of $5.75 billion.

Adobe Inc (ADBE) Insider Activity

The most recent transaction is an insider sale by NARAYEN SHANTANU, the company’s Chair and CEO. SEC filings show that NARAYEN SHANTANU sold 25,000 shares of the company’s common stock on Sep 25 ’24 at a price of $521.58 per share for a total of $13.04 million. Following the sale, the insider now owns 0.36 million shares.

Still, SEC filings show that on Sep 19 ’24, Rao Dana (Officer) Proposed Sale 3,220 shares at an average price of $520.61 for $1.68 million. The insider now directly holds shares of Adobe Inc (ADBE).

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