Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Adobe Inc shares valued at $1,676,354 were purchased by Rao Dana on Sep 19 ’24. At $520.61 per share, Rao Dana acquired 3,220 shares.
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Also, Durn Daniel sold 6,500 shares, netting a total of over 3,350,328 in proceeds. Following the sale of shares at $515.44 each, the insider now holds 20,838 shares.
Before that, Durn Daniel had added 6,500 shares to its account. In a trade valued at $3,445,000, the Officer bought Adobe Inc shares for $530.00 each.
As published in a research note from Oppenheimer on September 04, 2024, Adobe Inc [ADBE] has been retained to an Outperform and the price target has been revised to $625. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid June. As of June 10, 2024, Melius has decreased its “Buy” rating to a “Hold” for ADBE. Earlier on March 21, 2024, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Underweight” for ADBE stock.
Analyzing ADBE Stock Performance
During the last five days, there has been a drop of approximately -10.25%. Over the course of the year, Adobe Inc shares have dropped approximately -11.76%. 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 $549.58, while a 200-day SMA reached $541.95. Nevertheless, trading volume fell to 3.53 million shares from 4.0 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 520.48, which, if violated, would cause prices to drop to 514.52. In the upper region, resistance lies at 529.94. The next price resistance is at 533.44. RSI (Relative Strength Index) is 41.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -38.56, which suggests the price will decrease in the coming days. Percent R is at 75.45%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
