Adobe Inc’s recently made public that its SVP & CAO Garfield Mark S. unloaded Company’s shares for reported $0.27 million on Jun 03 ’24. In the deal valued at $447.58 per share,594 shares were sold. As a result of this transaction, Garfield Mark S. now holds 2,740 shares worth roughly $1.26 million.
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Then, Garfield Mark S. sold 795 shares, generating $389,630 in total proceeds. Upon selling the shares at $490.10, the SVP & CAO now owns 3,333 shares.
Before that, Belsky Scott sold 2,713 shares. Adobe Inc shares valued at $1,286,776 were divested by the Chief Strategy Officer & EVP at a price of $474.30 per share. As a result of the transaction, Belsky Scott now holds 21,114 shares, worth roughly $9.71 million.
Melius downgraded its Adobe Inc [ADBE] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in late March with a ‘”an Underweight”‘ rating. Exane BNP Paribas also remained covering ADBE and has decreased its forecast on January 18, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. Barclays revised its rating on December 18, 2023. It rated ADBE as “an Overweight” which previously was an “an Equal weight”.
Price Performance Review of ADBE
On Monday, Adobe Inc [NASDAQ:ADBE] saw its stock fall -1.18% to $459.94. Over the last five days, the stock has gained 4.77%. Adobe Inc shares have fallen nearly -22.91% since the year began. Nevertheless, the stocks have risen 4.76% over the past one year. While a 52-week high of $638.25 was reached on 02/02/24, a 52-week low of $423.58 was recorded on 05/31/24. SMA at 50 days reached $476.40, while 200 days put it at $545.28. A total of 3.21 million shares were traded, compared to the trading of 2.68 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 453.56, which if violated will result in even more drops to 447.17. On the upside, there is a resistance level at 464.28. A further resistance level may holdings at 468.61. The Relative Strength Index (RSI) on the 14-day chart is 43.49, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.97, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 55.00%. Stochastics %K at 47.13% indicates the stock is a holding.
The most recent change occurred on December 08, 2023 when BMO Capital Markets resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $690.
