Adobe Inc’s filing revealed that its SVP & CAO Garfield Mark S. unloaded Company’s shares for reported $0.13 million on Mar 18 ’24. In the deal valued at $496.68 per share,263 shares were sold. As a result of this transaction, Garfield Mark S. now holds 4,073 shares worth roughly $1.91 million.
Then, Belsky Scott sold 864 shares, generating $531,723 in total proceeds. Upon selling the shares at $615.42, the Chief Strategy Officer & EVP now owns 22,644 shares.
Before that, Garfield Mark S. sold 788 shares. Adobe Inc shares valued at $484,951 were divested by the SVP & CAO at a price of $615.42 per share. As a result of the transaction, Garfield Mark S. now holds 4,055 shares, worth roughly $1.91 million.
KeyBanc Capital Markets initiated its Adobe Inc [ADBE] rating to an Underweight in a research note published on March 21, 2024; the price target was $445. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in mid January from “a Neutral” to “an Underperform”. Barclays also remained covering ADBE and has increased its forecast on December 18, 2023 with a “an Overweight” recommendation from previously “an Equal weight” rating. BMO Capital Markets maintained its rating on December 08, 2023. It rated ADBE as “an Outperform”.
Price Performance Review of ADBE
On Monday, Adobe Inc [NASDAQ:ADBE] saw its stock fall -0.84% to $470.10. Over the last five days, the stock has lost -2.93%. Adobe Inc shares have fallen nearly -21.20% since the year began. Nevertheless, the stocks have risen 24.10% over the past one year. While a 52-week high of $638.25 was reached on 02/02/24, a 52-week low of $331.89 was recorded on 04/15/24. SMA at 50 days reached $542.91, while 200 days put it at $553.44. A total of 3.34 million shares were traded, compared to the trading of 5.62 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 466.13, which if violated will result in even more drops to 462.15. On the upside, there is a resistance level at 476.30. A further resistance level may holdings at 482.49. The Relative Strength Index (RSI) on the 14-day chart is 29.31, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -15.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.39%. Stochastics %K at 10.92% indicates the stock is a buying.
