Bigelow Investment Advisors LLC Has $415,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bigelow Investment Advisors LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 4.7% during the first quarter, HoldingsChannel.com reports. The firm owned 1,081 shares of the software company’s stock after buying an additional 49 shares during the period. Bigelow Investment Advisors LLC’s holdings in Adobe were worth $415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Johnson Investment Counsel Inc. grew its position in shares of Adobe by 7.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 156,164 shares of the software company’s stock worth $59,894,000 after buying an additional 11,038 shares during the period. Davidson Capital Management Inc. boosted its stake in Adobe by 36,405.3% during the 1st quarter. Davidson Capital Management Inc. now owns 6,936 shares of the software company’s stock worth $2,660,000 after acquiring an additional 6,917 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in Adobe by 27.0% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 682 shares of the software company’s stock worth $262,000 after acquiring an additional 145 shares during the last quarter. PSI Advisors LLC grew its holdings in Adobe by 18.6% during the first quarter. PSI Advisors LLC now owns 2,029 shares of the software company’s stock valued at $778,000 after purchasing an additional 318 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in Adobe by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 63,907 shares of the software company’s stock valued at $24,509,000 after purchasing an additional 810 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $378.04 on Thursday. The stock has a market cap of $161.12 billion, a PE ratio of 24.19, a P/E/G ratio of 1.81 and a beta of 1.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. The firm has a 50-day moving average of $388.63 and a 200-day moving average of $419.09. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Adobe in a research note on Thursday, June 5th. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday. Finally, UBS Group lifted their price objective on Adobe from $380.00 to $430.00 and gave the company a “neutral” rating in a report on Monday, June 9th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $494.67.

About Adobe

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.