Adobe Inc’s recently made public that its SVP & CAO Garfield Mark S. unloaded Company’s shares for reported $45120.0 on Apr 16 ’24. In the deal valued at $470.00 per share,96 shares were sold. As a result of this transaction, Garfield Mark S. now holds 4,128 shares worth roughly $1.93 million.
Then, Garfield Mark S. sold 263 shares, generating $130,627 in total proceeds. Upon selling the shares at $496.68, the SVP & CAO now owns 4,073 shares.
Before that, Belsky Scott sold 864 shares. Adobe Inc shares valued at $531,723 were divested by the Chief Strategy Officer & EVP at a price of $615.42 per share. As a result of the transaction, Belsky Scott now holds 22,644 shares, worth roughly $10.57 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 jump 0.40% to $466.89. Over the last five days, the stock has lost -0.68%. Adobe Inc shares have fallen nearly -21.74% since the year began. Nevertheless, the stocks have risen 22.78% 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 04/22/24. SMA at 50 days reached $527.95, while 200 days put it at $553.09. A total of 2.29 million shares were traded, compared to the trading of 3.28 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 462.28, which if violated will result in even more drops to 457.67. On the upside, there is a resistance level at 471.50. A further resistance level may holdings at 476.11. The Relative Strength Index (RSI) on the 14-day chart is 31.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -11.46, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.98%. Stochastics %K at 9.42% indicates the stock is a buying.
