The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Adobe Inc shares valued at $265,644 were sold by Garfield Mark S. on Jun 03 ’24. At $447.58 per share, Garfield Mark S. sold 594 shares. The insider’s holdings dropped to 2,740 shares worth approximately $1.26 million following the completion of this transaction.
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Also, Garfield Mark S. sold 795 shares, netting a total of over 389,630 in proceeds. Following the sale of shares at $490.10 each, the insider now holds 3,333 shares.
Before that, Belsky Scott had sold 2,713 shares from its account. In a trade valued at $1,286,776, the Chief Strategy Officer & EVP traded Adobe Inc shares for $474.30 each. Upon closing the transaction, the insider’s holdings decreased to 2,713 shares, worth approximately $9.67 million.
As published in their initiating research note from KeyBanc Capital Markets on March 21, 2024, Adobe Inc [ADBE] has been an Underweight and the price target has been revised to $445. Analysts at Exane BNP Paribas downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in mid January. As of December 18, 2023, Barclays has increased its “an Equal weight” rating to a “an Overweight” for ADBE. Earlier on December 08, 2023, BMO Capital Markets resumed its rating. Their recommendation was “an Outperform” for ADBE stock.
Analyzing ADBE Stock Performance
During the last five days, there has been a surge of approximately 2.75%. Over the course of the year, Adobe Inc shares have dropped approximately -23.21%. Shares of the company reached a 52-week high of $638.25 on 02/02/24 and a 52-week low of $433.97 on 05/31/24. A 50-day SMA is recorded $478.07, while a 200-day SMA reached $545.91. Nevertheless, trading volume fell to 3.23 million shares from 3.29 million shares the previous day.
Support And Resistance Levels for Adobe Inc (ADBE)
According to the 24-hour chart, there is a support level at 454.05, which, if violated, would cause prices to drop to 449.97. In the upper region, resistance lies at 465.03. The next price resistance is at 471.93. RSI (Relative Strength Index) is 41.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.09, which suggests the price will decrease in the coming days. Percent R is at 58.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
