In last trading session, Adobe Inc (NASDAQ:ADBE) saw 5.4 million shares changing hands with its beta currently measuring 1.28. Company’s recent per share price level of $499.52 trading at -$11.73 or -2.29% at ring of the bell on the day assigns it a market valuation of $226.06B. That closing price of ADBE’s stock is at a discount of -27.77% from its 52-week high price of $638.25 and is indicating a premium of 33.56% from its 52-week low price of $331.89. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.17 million shares which gives us an average trading volume of 3.48 million if we extend that period to 3-months.
Adobe Inc (NASDAQ:ADBE) trade information
Upright in the red during last session for losing -2.29%, in the last five days ADBE remained trading in the green while hitting it’s week-highest on Wednesday, 03/20/24 when the stock touched $499.52 price level, adding 4.65% to its value on the day. Adobe Inc’s shares saw a change of -16.27% in year-to-date performance and have moved 1.43% in past 5-day. Adobe Inc (NASDAQ:ADBE) showed a performance of -7.08% in past 30-days. Number of shares sold short was 5.4 million shares which calculate 1.57 days to cover the short interests.
Adobe Inc (ADBE) estimates and forecasts
Statistics highlight that Adobe Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -2.79% of value to its shares in past 6 months, showing an annual growth rate of 11.70% while that of industry is 13.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 12.30% in the current quarter and calculating 9.50% increase in the next quarter. This year revenue growth is estimated to rise 20.00% from the last financial year’s standing.
26 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $5.29 billion for the same. And 26 analysts are in estimates of company making revenue of $5.4 billion in the next quarter that will end on Aug 2024.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 17.86% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 12.09% while estimates for its earnings growth in next 5 years are of 13.56%.
ADBE Dividends
Adobe Inc is more likely to be releasing its next quarterly report between June 13 and June 17 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Adobe Inc (NASDAQ:ADBE)’s Major holders
Insiders are in possession of 0.20% of company’s total shares while institution are holding 86.87 percent of that, with stock having share float percentage of 87.05%. Investors also watch the number of corporate investors in a company very closely, which is 86.87% institutions for Adobe Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at ADBE for having 40.27 million shares of worth $20.11 billion. And as of Dec 30, 2023, it was holding 8.90% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 37.97 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 8.39% of outstanding shares, having a total worth of $18.97 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2023, the former fund manager was holding 14.29 million shares of worth $7.14 billion or 3.16% of the total outstanding shares. The later fund manager was in possession of 11.12 million shares on Dec 30, 2023, making its stake of worth around $5.56 billion in the company or a holder of 2.46% of company’s stock.
