During the last session, Adobe Inc (NASDAQ:ADBE)’s traded shares were 4.97 million, with the beta value of the company hitting 1.27. At the end of the trading day, the stock’s price was $485.12, reflecting an intraday loss of -0.41% or -$1.99. The 52-week high for the ADBE share is $638.25, that puts it down -31.57 from that peak though still a striking 31.59% gain since the share price plummeted to a 52-week low of $331.89. The company’s market capitalization is $217.33B, and the average intraday trading volume over the past 10 days was 3.7 million shares, and the average trade volume was 3.68 million shares over the past three months.
Adobe Inc (NASDAQ:ADBE) trade information
Adobe Inc (ADBE) registered a -0.41% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.41% in intraday trading to $485.12, hitting a weekly high. The stock’s 5-day price performance is -3.86%, and it has moved by -10.67% in 30 days. Based on these gigs, the overall price performance for the year is 25.96%. The short interest in Adobe Inc (NASDAQ:ADBE) is 5.13 million shares and it means that shorts have 1.05 day(s) to cover.
Adobe Inc (ADBE) estimates and forecasts
Statistics show that Adobe Inc has underperformed its competitors in share price, compared to the industry in which it operates. Adobe Inc (ADBE) shares have gone down -6.42% during the last six months, with a year-to-date growth rate less than the industry average at 11.76% against 15.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 12.30% this quarter and then jump 9.50% in the quarter after that. In the rating firms’ projections, revenue will increase 20.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $5.29 billion as predicted by 26 analyst(s). Meanwhile, a consensus of 26 analyst(s) estimates revenue growth to $5.4 billion by the end of Aug 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 17.86%. While earnings are projected to return 12.06% in 2024, the next five years will return 13.36% per annum.
ADBE Dividends
Adobe Inc is due to release its next quarterly earnings on June 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Adobe Inc (NASDAQ:ADBE)’s Major holders
Adobe Inc insiders own 0.20% of total outstanding shares while institutional holders control 87.64%, with the float percentage being 87.82%. Vanguard Group Inc is the largest shareholder of the company, while 3,808 institutions own stock in it. As of Jun 29, 2023, the company held over 39.67 million shares (or 8.71% of all shares), a total value of $19.4 billion in shares.
The next largest institutional holding, with 36.61 million shares, is of Blackrock Inc.’s that is approximately 8.04% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $17.9 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Adobe Inc (ADBE) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 14.3 million shares. This amounts to just over 3.14 percent of the company’s overall shares, with a $6.99 billion market value. The same data shows that the other fund manager holds slightly less at 10.92 million, or about 2.40% of the stock, which is worth about $5.34 billion.
