Check Out Insider Trades For Adobe Inc. (ADBE) Stock

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Adobe Inc. (NASDAQ:ADBE) saw a downside of -1.46% to $359.66 after subtracting -$5.32 on Tuesday. The 5-day average trading volume is 2,336,968 shares of the company’s common stock. It has gained $365.87 in the past week and touched a new high 3 times within the past 5 days. An average of 2,153,182 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,861,687.

ADBE’s 1-month performance is 7.91% or $22.29 on its low of $322.44 reached on 01/06/23. The company’s shares have touched a 52-week low of $274.73 and high of $540.46, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, ADBE has achieved 8.45% or $24.21 and has reached a new high 5 times. However, the current price is down -33.45% from the 52-week high price.

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Insider Transactions

ADBE stock investors last saw insider trading activity on Jan 20.NARAYEN SHANTANU (Chairman and CEO) most recently sold 15,000 shares at $346.61 per share on Jan 20. This transaction cost the insider $5,199,152. Director, WARNOCK JOHN E, sold 3,000 shares at a price of $341.91 on Jan 12. Then, on Dec 20, EVP, Gen. Counsel & Secretary Rao Dana sold 5,018 shares at a price of $336.93 per share. This transaction amounted to $1,690,715.

Valuation Metrics

ADBE stock has a beta of 1.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.12 while the price-to-book (PB) in the most recent quarter is 12.13, with the price to cash flow ratio at 21.71.

Adobe Inc.’s quick ratio for the period ended November 29 was 1.10, with the current ratio over the same period at 1.10. As well, the company’s long term debt to equity for the quarter ending November 29 was 0.26, while the total debt to equity was 0.29. In terms of profitability, the gross margin trailing 12 months is 87.70%. The firm’s gross profit as reported stood at $15.44 billion against revenue of $17.61 billion.

Earnings Surprise

For the quarterly period ending November 29 this year, Adobe Inc.’s cash and short-term investments amounted to $1.86 billion against total debt of $4.63 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 1.7% to $1.23 billion, while revenue of $1.14 billion was 7.87% off the previous quarter. Analysts expected ADBE to announce $3.5 per share in earnings in its latest quarter, but it posted $3.6, representing a 2.90% surprise. EBITDA for the quarter stood at more than $1.72 billion. ADBE stock balance sheet for the quarter ending November 29 shows that total liabilities totaled 13.11 billion, with total debt at $4.63 billion. Shareholders hold equity totaling $457.8 million.

Let’s look briefly at Adobe Inc. (ADBE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 68.11% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.58%.

The stock’s 5-day moving average is $353.19, reflecting a +4.75% or $16.36 change from its current price. ADBE is currently trading +7.20% above its 20-day SMA, -3.82% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +20.70% and SMA200 by-18.81%.

Stochastic %K and %D was 94.39% and 87.05% and the average true range (ATR) pointed at 10.00. The RSI (14) points at 63.68%, while the 14-day stochastic is at 88.19% with the period’s ATR at 10.37. The stock’s 9-day MACD Oscillator is pointing at 11.57 and 16.03 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Adobe Inc. (NASDAQ: ADBE), DA Davidson launched coverage with a Neutral rating.

What is ADBE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $321.00 and a high of $475.00, with their median price target at $385.00. Looking at these predictions, the average price target given by analysts is for Adobe Inc. (ADBE) stock is $382.97.

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