Praxis Investment Management Inc. Sells 4,090 Shares of Adobe Inc. $ADBE

Key Points

• Praxis Investment Management Inc. reduced its stake in Adobe Inc. by 35.0%, selling 4,090 shares during the second quarter and retaining 7,597 shares valued at approximately $2.94 million.
• Several other institutional investors have increased their holdings in Adobe, with Goldman Sachs raising its stake by 68.3%, indicating strong institutional interest as 81.79% of the company's stock is currently held by such investors.
• Adobe reported quarterly earnings of $5.31 per share, exceeding analysts’ expectations, alongside a revenue increase of 10.7% year-over-year, setting the company's FY 2025 EPS guidance between $20.800-20.850.

Praxis Investment Management Inc. trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 35.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,597 shares of the software company's stock after selling 4,090 shares during the quarter. Praxis Investment Management Inc.'s holdings in Adobe were worth $2,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company's stock valued at $15,779,895,000 after purchasing an additional 171,547 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Adobe by 14.4% in the first quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company's stock worth $2,504,685,000 after acquiring an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Adobe by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company's stock worth $2,097,289,000 after acquiring an additional 126,688 shares during the period. Amundi grew its stake in shares of Adobe by 24.7% in the first quarter. Amundi now owns 4,848,521 shares of the software company's stock worth $1,782,642,000 after acquiring an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Adobe by 68.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company's stock worth $1,754,954,000 after acquiring an additional 1,856,544 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.4%

ADBE stock opened at $329.23 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The stock has a market capitalization of $137.82 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.49. The firm's fifty day simple moving average is $351.14 and its two-hundred day simple moving average is $369.21.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion for the quarter, compared to analysts' expectations of $5.91 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The business's revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. Redburn Partners set a $280.00 price target on shares of Adobe in a research note on Monday, September 1st. BMO Capital Markets lowered their price target on shares of Adobe from $450.00 to $405.00 and set an "outperform" rating on the stock in a report on Friday, September 12th. Oppenheimer lowered their price target on shares of Adobe from $500.00 to $460.00 and set an "outperform" rating on the stock in a report on Tuesday, September 9th. DA Davidson reissued a "buy" rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Finally, Mizuho cut shares of Adobe from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $433.41.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.

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