Adobe Inc’s filing revealed that its SVP & CAO Forusz Jillian unloaded Company’s shares for reported $0.33 million on Oct 29 ’24. In the deal valued at $484.97 per share,676 shares were sold. As a result of this transaction, Forusz Jillian now holds 2,715 shares worth roughly $1.36 million.
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Then, Rao Dana bought 4,013 shares, generating $1,970,765 in total proceeds.
Before that, Forusz Jillian bought 676 shares. Adobe Inc shares valued at $327,843 were divested by the Officer at a price of $484.97 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 fall -0.77% to $499.51. Over the last five days, the stock has lost -0.99%. Adobe Inc shares have fallen nearly -16.27% since the year began. Nevertheless, the stocks have fallen -17.03% 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 $508.38, while 200 days put it at $520.92.
Levels Of Support And Resistance For ADBE Stock
The 24-hour chart illustrates a support level at 496.30, which if violated will result in even more drops to 493.08. On the upside, there is a resistance level at 504.12. A further resistance level may holdings at 508.72. The Relative Strength Index (RSI) on the 14-day chart is 48.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 10.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 62.29%. Stochastics %K at 55.29% 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 2024-10-31, dropping by 40641.0 shares to a total of 6.46 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 6.5 million shares. There was a decline of -0.63%, which implies that there is a negative sentiment for the stock.
