Adobe (NASDAQ:ADBE – Get Free Report) announced its quarterly earnings data on Thursday. The software company reported $4.65 EPS for the quarter, beating the consensus estimate of $4.53 by $0.12, RTT News reports. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm earned $3.26 EPS. The company’s revenue was up 10.6% on a year-over-year basis. Adobe updated its Q4 guidance to $4.63-4.68 EPS and its Q4 2024 guidance to 4.630-4.680 EPS.
Adobe Price Performance
Shares of NASDAQ:ADBE traded down $49.68 on Friday, hitting $536.87. The company had a trading volume of 10,423,510 shares, compared to its average volume of 3,212,712. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.28. The company has a market cap of $238.05 billion, a PE ratio of 48.24, a PEG ratio of 3.03 and a beta of 1.29. Adobe has a 52-week low of $433.97 and a 52-week high of $638.25. The business has a 50 day moving average of $553.76 and a 200 day moving average of $520.19.
Insider Buying and Selling
In other news, CEO Shantanu Narayen sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the transaction, the chief executive officer now owns 379,660 shares of the company’s stock, valued at $206,576,802.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total transaction of $13,602,750.00. Following the sale, the chief executive officer now owns 379,660 shares in the company, valued at $206,576,802.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 151 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $564.60, for a total value of $85,254.60. Following the completion of the sale, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,579,186.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,523 shares of company stock worth $14,994,277. 0.15% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Adobe
Adobe Company Profile
Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.
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