ARK Investment Management LLC Lowers Holdings in Trimble Inc. (NASDAQ:TRMB)

ARK Investment Management LLC trimmed its holdings in Trimble Inc. (NASDAQ:TRMB) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 owned about 0.75% of Trimble worth $99,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in TRMB. IFP Advisors Inc lifted its position in shares of Trimble by 798.1% in the second quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 415 shares in the last quarter. Clear Street Markets LLC increased its stake in Trimble by 93.2% during the first quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 234 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Trimble during the second quarter worth approximately $42,000. Operose Advisors LLC bought a new stake in Trimble during the third quarter worth approximately $43,000. Finally, Belpointe Asset Management LLC increased its stake in Trimble by 42.3% during the first quarter. Belpointe Asset Management LLC now owns 1,026 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 305 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Price Performance

Shares of TRMB opened at $63.30 on Thursday. The business’s 50-day moving average is $58.21 and its two-hundred day 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 quick ratio of 0.87 and a current ratio of 1.00. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55.

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

Insider Activity

In other news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the sale, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the sale, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now 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 worth $822,509 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TRMB shares. Piper Sandler raised Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $51.00 to $68.00 in a research note on Tuesday, February 13th. Oppenheimer boosted their price target on Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird boosted their price target on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Finally, JPMorgan Chase & Co. boosted their price target on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Trimble has a consensus rating of “Moderate Buy” and an average target price 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.