Praxis Investment Management Inc. Reduces Stock Holdings in Adobe Inc. $ADBE

Praxis Investment Management Inc. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 71.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,177 shares of the software company’s stock after selling 5,420 shares during the period. Praxis Investment Management Inc.’s holdings in Adobe were worth $768,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new stake in shares of Adobe in the first quarter valued at about $25,000. LSV Asset Management increased its stake in shares of Adobe by 350.0% during the 2nd quarter. LSV Asset Management now owns 72 shares of the software company’s stock worth $28,000 after purchasing an additional 56 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Adobe during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC acquired a new position in shares of Adobe during the 2nd quarter worth approximately $31,000. Finally, Horizon Financial Services LLC lifted its stake in Adobe by 4,000.0% in the 2nd quarter. Horizon Financial Services LLC now owns 82 shares of the software company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI dropped their price target on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a research report on Friday, September 12th. Piper Sandler decreased their price objective on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Oppenheimer dropped their price objective on Adobe from $460.00 to $430.00 and set an “outperform” rating for the company in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Adobe in a research note on Thursday. Finally, BMO Capital Markets reduced their target price on shares of Adobe from $405.00 to $400.00 and set an “outperform” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $417.15.

Adobe Stock Performance

NASDAQ ADBE opened at $351.15 on Tuesday. The business’s 50-day moving average price is $336.09 and its 200 day moving average price is $356.66. The company has a current ratio of 1.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a twelve month low of $311.58 and a twelve month high of $473.62. The company has a market capitalization of $146.99 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.54.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 10th. The software company reported $5.50 EPS for the quarter, beating analysts’ consensus estimates of $5.40 by $0.10. The company had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.11 billion. Adobe had a net margin of 30.00% and a return on equity of 61.28%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.81 EPS. Adobe has set its Q1 2026 guidance at 5.850-5.900 EPS and its FY 2026 guidance at 23.300-23.500 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

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.