Adobe Inc. (NASDAQ:ADBE)’s traded shares stood at 2.29 million during the latest session, with the company’s beta value hitting 1.28. At the last check today, the stock’s price was $347.68, to imply an increase of 4.22% or $14.07 in intraday trading. The ADBE share’s 52-week high remains $473.49, putting it -36.19% down since that peak but still an impressive 20.98% since price per share fell to its 52-week low of $274.73. The company has a valuation of $156.93B, with an average of 3.6 million shares in intraday trading volume over the past 10 days and average of 2.96 million shares over the past 3 months.
Adobe Inc. (NASDAQ:ADBE) trade information
After registering a 4.22% upside in the latest session, Adobe Inc. (ADBE) has traded red over the past five days. The stock hit a weekly high of 349.40 this Wednesday, 03/15/23, jumping 4.22% in its intraday price action. The 5-day price performance for the stock is 2.75%, and -8.00% over 30 days. With these gigs, the year-to-date price performance is 3.31%. Short interest in Adobe Inc. (NASDAQ:ADBE) saw shorts transact 5.49 million shares and set a 1.84 days time to cover.
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Adobe Inc. (ADBE) estimates and forecasts
Looking at statistics comparing Adobe Inc. share performance against respective industry, we note that the company has outperformed competitors. Adobe Inc. (ADBE) shares are -6.42% down over the last 6 months, with its year-to-date growth rate higher than industry average at 11.38% against 5.70%. Revenue is forecast to grow 12.20% this quarter before jumping 13.20% for the next one. The rating firms project that company’s revenue will grow 9.40% compared to the previous financial year.
Revenue forecast for the current quarter as set by 25 analysts is $4.76 billion. Meanwhile, for the quarter ending Aug 2023, a total of 24 analyst(s) estimate revenue growth to $4.86 billion.Earnings reports from the last fiscal year show that sales brought in $4.39 billion and $4.43 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.40% before jumping 9.60% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 24.50% for the past 5-year period. While 2023 is set for a 0.70% return in earnings, projections for the next 5 years are at 13.87% annually.
Adobe Inc. has its next earnings report out between June 14 and June 19. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Adobe Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Adobe Inc. (NASDAQ:ADBE)’s Major holders
Adobe Inc. insiders hold 0.32% of total outstanding shares, with institutional holders owning 85.71% of the shares at 85.99% float percentage. In total, 85.71% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Dec 30, 2022, the company held over 39.4 million shares (or 8.59% of shares), all amounting to roughly $13.71 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 36.85 million shares, or about 8.04% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $12.83 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Adobe Inc. (ADBE) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 13.95 million shares. This is just over 3.05% of the total shares, with a market valuation of $4.85 billion. Data from the same date shows that the other fund manager holds a little less at 10.61 million, or 2.32% of the shares, all valued at about 3.69 billion.