Wealthfront Advisers LLC Sells 22,702 Shares of Trimble Inc. (NASDAQ:TRMB)

Wealthfront Advisers LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB) by 76.5% during the 4th quarter, Holdings Channel reports. The fund owned 6,967 shares of the scientific and technical instruments company’s stock after selling 22,702 shares during the period. Wealthfront Advisers LLC’s holdings in Trimble were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock worth $364,984,000 after acquiring an additional 39,069 shares during the period. Victory Capital Management Inc. raised its position in Trimble by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after acquiring an additional 222,679 shares during the period. Charles Schwab Investment Management Inc. raised its position in Trimble by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,080,628 shares of the scientific and technical instruments company’s stock worth $147,017,000 after acquiring an additional 24,070 shares during the period. JPMorgan Chase & Co. raised its position in Trimble by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock worth $46,594,000 after acquiring an additional 136,452 shares during the period. Finally, Barclays PLC raised its position in Trimble by 4.3% in the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company’s stock worth $46,151,000 after acquiring an additional 30,457 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Robert W. Baird raised their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein raised their target price on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Finally, StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Trimble has an average rating of “Buy” and a consensus price target of $86.00.

Trimble Stock Performance

Shares of NASDAQ:TRMB opened at $69.39 on Monday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a market capitalization of $17.06 billion, a P/E ratio of 11.39, a PEG ratio of 3.09 and a beta of 1.57. The firm has a fifty day simple moving average of $72.62 and a two-hundred day simple moving average of $68.02. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Trimble Company Profile

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.