Adobe (ADBE) sees Significant Insider Selling Continuing
10:19 PM EDT, 05/07/2021 (MT Newswires) -- There was a substantial insider sale of Adobe shares today, as indicated in a filing with the SEC as -- Dana Rao, Officer -- disposed of 4,692 shares in the company having a market value of approximately $2,324,118 There have been 4 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the disposition of 27,890 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 32,582 shares and have averaged 6,516 shares per transaction over this time period.
Over the last 90 days, the number of insider buy/sell trades at Adobe is higher than its 37-company peer group average. The Application Software peer group saw 88 buy/sell trades during this period for an average of 2.4 transactions per company. However, the number of shares traded per transaction by Adobe insiders is lower than its peers. Within the peer group there were 200,000 shares purchased and 929,269 shares sold with company insiders disposing of 8,287 shares on average over this time period.
Significant insider buying and selling activity has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in data used in evaluating and writing this story.
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.