Adobe Inc’s recently made public that its Chief Strategy Officer & EVP Belsky Scott unloaded Company’s shares for reported $1.29 million on May 02 ’24. In the deal valued at $474.30 per share,2,713 shares were sold. As a result of this transaction, Belsky Scott now holds 21,114 shares worth roughly $10.42 million.
Then, Garfield Mark S. sold 97 shares, generating $45,436 in total proceeds. Upon selling the shares at $468.41, the SVP & CAO now owns 4,128 shares.
Before that, Chakravarthy Anil sold 100 shares. Adobe Inc shares valued at $47,100 were divested by the President, DX at a price of $471.00 per share. As a result of the transaction, Chakravarthy Anil now holds 33,609 shares, worth roughly $16.59 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 1.52% to $493.59. Over the last five days, the stock has gained 4.34%. Adobe Inc shares have fallen nearly -17.27% since the year began. Nevertheless, the stocks have risen 46.98% 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 05/01/24. SMA at 50 days reached $508.12, while 200 days put it at $551.28. A total of 2.1 million shares were traded, compared to the trading of 2.83 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 489.25, which if violated will result in even more drops to 484.90. On the upside, there is a resistance level at 496.69. A further resistance level may holdings at 499.78. The Relative Strength Index (RSI) on the 14-day chart is 54.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 11.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.27%. Stochastics %K at 87.39% indicates the stock is a selling.
