Adobe Inc’s recent filing unveils that its Chief Strategy Officer & EVP Belsky Scott unloaded Company’s shares for reported $0.79 million on Oct 15 ’24. In the deal valued at $513.82 per share,1,530 shares were sold. As a result of this transaction, Belsky Scott now holds 18,831 shares worth roughly $9.37 million.
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Then, Belsky Scott sold 703 shares, generating $355,992 in total proceeds. Upon selling the shares at $506.39, the Chief Strategy Officer & EVP now owns 18,128 shares.
Before that, SCOTT K BELSKY bought 703 shares. Adobe Inc shares valued at $355,992 were divested by the Officer at a price of $506.39 per share.
Oppenheimer reiterated its Adobe Inc [ADBE] rating to an Outperform in a research note published on September 04, 2024; the price target was $625. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in mid June from “a Neutral” to “an Overweight”. Melius also remained covering ADBE and has decreased its forecast on June 10, 2024 with a “Hold” recommendation from previously “Buy” rating. KeyBanc Capital Markets started covering the stock on March 21, 2024. It rated ADBE as “an Underweight”.
Price Performance Review of ADBE
On Monday, Adobe Inc [NASDAQ:ADBE] saw its stock jump 0.57% to $497.71. Over the last five days, the stock has lost -2.34%. Adobe Inc shares have fallen nearly -16.58% since the year began. Nevertheless, the stocks have fallen -10.44% 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 $533.92, while 200 days put it at $531.80.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 493.56, which if violated will result in even more drops to 489.42. On the upside, there is a resistance level at 501.25. A further resistance level may holdings at 504.80. The Relative Strength Index (RSI) on the 14-day chart is 41.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.95%. Stochastics %K at 31.37% indicates the stock is a holding.
How much short interest is there in Adobe Inc?
A steep rise in short interest was recorded in Adobe Inc stocks on 2024-09-30, growing by 1.16 million shares to a total of 6.5 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.34 million shares. There was a rise of 17.8%, which implies that there is a positive sentiment for the stock.
