The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Adobe Inc shares valued at $333,300 were sold by Banse Amy on Dec 06 ’24. At $550.00 per share, Banse Amy sold 606 shares. The insider’s holdings dropped to 32,929 shares worth approximately $14.75 million following the completion of this transaction.
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Also, AMY BANSE purchased 606 shares, netting a total of over 326,161 in proceeds.
Before that, Rao Dana had added 8,671 shares to its account. In a trade valued at $4,526,692, the Officer bought Adobe Inc shares for $522.05 each.
As published in a research note from TD Cowen on December 12, 2024, Adobe Inc [ADBE] has been rated down from a Buy to a Hold and the price target has been revised to $550 from $625. Analysts at BMO Capital Markets resumed the stock at ‘”an Outperform”‘ outlook in a report released in early December. As of September 04, 2024, Oppenheimer has reiterated its “an Outperform” rating for ADBE. Earlier on June 14, 2024, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for ADBE stock which previously was a “a Neutral”.
Analyzing ADBE Stock Performance
During the last five days, there has been a drop of approximately -1.83%. Over the course of the year, Adobe Inc shares have dropped approximately -25.09%. Shares of the company reached a 52-week high of $638.25 on 02/02/24 and a 52-week low of $432.47 on 12/20/24. A 50-day SMA is recorded $497.90, while a 200-day SMA reached $511.57. Nevertheless, trading volume fell to 1.68 million shares from 2.94 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 444.05, which, if violated, would cause prices to drop to 440.16. In the upper region, resistance lies at 450.35. The next price resistance is at 452.75. RSI (Relative Strength Index) is 31.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -39.41, which suggests the price will decrease in the coming days. Percent R is at 87.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
