Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $9.69 million.
As published in a research note from Melius on June 10, 2024, Adobe Inc [ADBE] has been rated down from a Buy to a Hold and the price target has been revised to $510. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Underweight”‘ outlook in a report released in late March. As of January 18, 2024, Exane BNP Paribas has decreased its “Neutral” rating to a “an Underperform” for ADBE. Earlier on December 18, 2023, Barclays upgraded its rating. Their new recommendation was “an Overweight” for ADBE stock which previously was a “an Equal weight”.
Analyzing ADBE Stock Performance
During the last five days, there has been a surge of approximately 0.13%. Over the course of the year, Adobe Inc shares have dropped approximately -23.11%. 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 $474.06, while a 200-day SMA reached $544.35. Nevertheless, trading volume fell to 7.89 million shares from 3.65 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 454.03, which, if violated, would cause prices to drop to 449.32. In the upper region, resistance lies at 462.92. The next price resistance is at 467.10. RSI (Relative Strength Index) is 43.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.14, which suggests the price will increase in the coming days. Percent R is at 51.82%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
