ARK Investment Management LLC Sells 342 Shares of Trimble Inc. (NASDAQ:TRMB)

ARK Investment Management LLC reduced its position in Trimble Inc. (NASDAQ:TRMB) by 0.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,874,894 shares of the scientific and technical instruments company’s stock after selling 342 shares during the period. ARK Investment Management LLC’s holdings in Trimble were worth $99,744,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TRMB. Schonfeld Strategic Advisors LLC raised its holdings in Trimble by 383.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock worth $11,881,000 after buying an additional 174,917 shares during the last quarter. Barclays PLC raised its holdings in Trimble by 43.6% during the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after buying an additional 176,139 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Trimble by 10.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock worth $84,067,000 after acquiring an additional 150,125 shares in the last quarter. Comerica Bank bought a new stake in shares of Trimble in the 2nd quarter worth $4,647,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Trimble by 3.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock worth $178,887,000 after acquiring an additional 95,588 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Trading Down 0.2 %

Shares of TRMB opened at $63.30 on Thursday. The firm’s 50 day simple moving average is $58.21 and its 200 day simple moving average is $52.05. The company has a market capitalization of $15.55 billion, a P/E ratio of 50.64, a P/E/G ratio of 2.84 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. Trimble Inc. has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last announced its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. Trimble’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $51.05, for a total value of $127,625.00. Following the sale, the chief executive officer now directly owns 203,856 shares of the company’s stock, valued at $10,406,848.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trimble news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $51.05, for a total transaction of $127,625.00. Following the transaction, the chief executive officer now directly owns 203,856 shares of the company’s stock, valued at $10,406,848.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders have sold 14,146 shares of company stock valued at $822,509 over the last three months. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TRMB has been the subject of several recent analyst reports. Piper Sandler upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $51.00 to $68.00 in a research note on Tuesday, February 13th. JPMorgan Chase & Co. increased their price target on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Oppenheimer increased their price target on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Robert W. Baird increased their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.