Adobe Inc (NASDAQ:ADBE)’s traded shares stood at 4.13 million during the latest session, with the company’s beta value hitting 1.29. At the last check today, the stock’s price was $533.53, to imply a decrease of -9.04% or -$53.02 in intraday trading. The ADBE share’s 52-week high remains $638.25, putting it -19.63% down since that peak but still an impressive 18.66% since price per share fell to its 52-week low of $433.97. The company has a valuation of $236.57B, with an average of 2.42 million shares in intraday trading volume over the past 10 days and average of 2.84 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Adobe Inc (ADBE), translating to a mean rating of 1.79. Of 31 analyst(s) looking at the stock, 1 analyst(s) give ADBE a Sell rating. 0 of those analysts rate the stock as Overweight while 9 advise Hold as 21 recommend it as a Buy.
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Adobe Inc (NASDAQ:ADBE) trade information
After registering a -9.04% downside in the latest session, Adobe Inc (ADBE) has traded red over the past five days. The 5-day price performance for the stock is -5.30%, and -1.16% over 30 days. With these gigs, the year-to-date price performance is -10.57%. Short interest in Adobe Inc (NASDAQ:ADBE) saw shorts transact 5.34 million shares and set a 2.81 days time to cover.
The extremes give us $200 and $730 for target low and target high price respectively. As such, ADBE has been trading -36.82% off suggested target high and 62.51% from its likely low.
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 -6.47% down over the last 6 months, with its year-to-date growth rate higher than industry average at 13.01% against 11.30%.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 17.86% for the past 5-year period. While 2024 is set for a 13.52% return in earnings, projections for the next 5 years are at 13.81% annually.
ADBE Dividends
Adobe Inc has its next earnings report out on 2024-Dec-11. 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. The company’s average dividend yield trailing the past 5-year period is 0.12%.
Adobe Inc (NASDAQ:ADBE)’s Major holders
Adobe Inc insiders hold 0.21% of total outstanding shares, with institutional holders owning 86.73% of the shares at 86.92% float percentage. In total, 86.73% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 41.03 million shares (or 9.1386% of shares), all amounting to roughly $22.8 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 38.57 million shares, or about 8.5908% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $21.43 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 Jun 30, 2024, Vanguard Total Stock Market Index Fund holds roughly 14.15 shares. This is just over 3.19% of the total shares, with a market valuation of $7.53 billion. Data from the same date shows that the other fund manager holds a little less at 11.5, or 2.59% of the shares, all valued at about 6.11 billion.