Adobe Inc’s recent filing unveils 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 $1.42 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 $10.95 million.
JP Morgan upgraded its Adobe Inc [ADBE] rating to an Overweight from a a Neutral in a research note published on June 14, 2024; the price target was increased to $580 from $570. A number of analysts have revised their coverage, including Melius’s analysts, who decreased its forecast for the stock in early June from “a Buy” to “a Hold”. KeyBanc Capital Markets began covering ADBE with “an Underweight” recommendation on March 21, 2024. Exane BNP Paribas revised its rating on January 18, 2024. It rated ADBE as “an Underperform” which previously was an “a Neutral”.
Price Performance Review of ADBE
On Monday, Adobe Inc [NASDAQ:ADBE] saw its stock fall -1.25% to $518.74. Over the last five days, the stock has gained 12.78%. Adobe Inc shares have fallen nearly -13.05% since the year began. Nevertheless, the stocks have risen 5.67% over the past one year. While a 52-week high of $638.25 was reached on 02/02/24, a 52-week low of $433.97 was recorded on 05/31/24. SMA at 50 days reached $475.50, while 200 days put it at $544.14. A total of 7.15 million shares were traded, compared to the trading of 14.85 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 507.43, which if violated will result in even more drops to 496.13. On the upside, there is a resistance level at 527.99. A further resistance level may holdings at 537.25. The Relative Strength Index (RSI) on the 14-day chart is 67.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 35.20, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.63%. Stochastics %K at 74.48% indicates the stock is a holding.
