Adobe Inc’s filing revealed that its Chair and CEO NARAYEN SHANTANU unloaded Company’s shares for reported $13.6 million on Jun 27 ’24. In the deal valued at $544.11 per share,25,000 shares were sold. As a result of this transaction, NARAYEN SHANTANU now holds 379,660 shares worth roughly $212.61 million.
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Then, Rao Dana sold 6,765 shares, generating $3,555,075 in total proceeds. Upon selling the shares at $525.51, the EVP, Gen. Counsel & Secretary now owns 17,540 shares.
Before that, Garfield Mark S. sold 264 shares. Adobe Inc shares valued at $138,735 were divested by the SVP & CAO at a price of $525.51 per share. As a result of the transaction, Garfield Mark S. now holds 2,740 shares, worth roughly $1.53 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 jump 0.80% to $560.01. Over the last five days, the stock has gained 6.84%. Adobe Inc shares have fallen nearly -6.13% since the year began. Nevertheless, the stocks have risen 15.76% over the past one year. While a 52-week high of $638.25 was reached on 02/02/24, a 52-week low of $433.97 was recorded on 05/31/24. SMA at 50 days reached $485.58, while 200 days put it at $543.10. A total of 3.07 million shares were traded, compared to the trading of 5.08 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 552.76, which if violated will result in even more drops to 545.50. On the upside, there is a resistance level at 564.24. A further resistance level may holdings at 568.46. The Relative Strength Index (RSI) on the 14-day chart is 75.54, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 36.53, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.11%. Stochastics%K at 97.89% indicates the stock is a selling.
