Adobe Inc’s recently made public that its Chief Strategy Officer & EVP Belsky Scott unloaded Company’s shares for reported $0.26 million on Jul 25 ’24. In the deal valued at $537.00 per share,481 shares were sold. As a result of this transaction, Belsky Scott now holds 19,658 shares worth roughly $10.66 million.
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Then, Garfield Mark S. sold 97 shares, generating $52,089 in total proceeds. Upon selling the shares at $537.00, the SVP & CAO now owns 2,797 shares.
Before that, Belsky Scott sold 701 shares. Adobe Inc shares valued at $395,785 were divested by the Chief Strategy Officer & EVP at a price of $564.60 per share. As a result of the transaction, Belsky Scott now holds 19,658 shares, worth roughly $10.66 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 Friday, Adobe Inc [NASDAQ:ADBE] saw its stock jump 1.93% to $542.44. Over the last five days, the stock has lost -1.55%. Adobe Inc shares have fallen nearly -9.08% since the year began. Nevertheless, the stocks have risen 5.42% 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 $514.57, while 200 days put it at $546.48. A total of 2.09 million shares were traded, compared to the trading of 2.13 million shares in the previous session.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 535.35, which if violated will result in even more drops to 528.25. On the upside, there is a resistance level at 547.52. A further resistance level may holdings at 552.59. The Relative Strength Index (RSI) on the 14-day chart is 50.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -18.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.68%. Stochastics%K at 13.99% indicates the stock is a buying.
