Green Alpha Advisors LLC Sells 398 Shares of Garmin Ltd. (NYSE:GRMN)

Green Alpha Advisors LLC lessened its stake in shares of Garmin Ltd. (NYSE:GRMN) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,751 shares of the scientific and technical instruments company’s stock after selling 398 shares during the quarter. Garmin makes up about 1.1% of Green Alpha Advisors LLC’s portfolio, making the stock its 28th biggest position. Green Alpha Advisors LLC’s holdings in Garmin were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC boosted its position in Garmin by 6.1% during the second quarter. Private Advisor Group LLC now owns 4,231 shares of the scientific and technical instruments company’s stock valued at $690,000 after purchasing an additional 244 shares in the last quarter. Choreo LLC bought a new stake in shares of Garmin in the 2nd quarter valued at about $415,000. Headlands Technologies LLC purchased a new position in shares of Garmin in the 2nd quarter worth approximately $46,000. American Century Companies Inc. raised its stake in shares of Garmin by 5.9% during the 2nd quarter. American Century Companies Inc. now owns 47,349 shares of the scientific and technical instruments company’s stock worth $7,714,000 after acquiring an additional 2,651 shares in the last quarter. Finally, Meeder Advisory Services Inc. purchased a new stake in Garmin during the second quarter valued at approximately $256,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Garmin Price Performance

NYSE GRMN opened at $209.15 on Monday. The stock’s fifty day moving average price is $210.93 and its 200 day moving average price is $185.69. Garmin Ltd. has a 1 year low of $119.15 and a 1 year high of $222.97. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.42 and a beta of 0.98.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Research analysts expect that Garmin Ltd. will post 7.01 earnings per share for the current year.

Analyst Ratings Changes

GRMN has been the topic of several analyst reports. Tigress Financial lifted their price target on shares of Garmin from $215.00 to $265.00 and gave the stock a “strong-buy” rating in a report on Monday, December 16th. Morgan Stanley downgraded Garmin from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $155.00 to $138.00 in a research note on Monday, October 7th. Finally, Barclays upped their target price on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insiders Place Their Bets

In related news, Director Sean Biddlecombe sold 587 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $210.10, for a total transaction of $123,328.70. Following the sale, the director now directly owns 6,147 shares of the company’s stock, valued at $1,291,484.70. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas G. Boessen sold 1,761 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $207.99, for a total value of $366,270.39. Following the completion of the transaction, the chief financial officer now directly owns 27,612 shares of the company’s stock, valued at $5,743,019.88. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.54% of the stock is currently owned by insiders.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.