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

Wealthfront Advisers LLC trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 76.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. TimesSquare Capital Management LLC bought a new position in Trimble in the fourth quarter worth about $50,041,000. Charles Schwab Investment Management Inc. raised its stake in Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after buying an additional 676,954 shares in the last quarter. Sora Investors LLC bought a new position in Trimble in the third quarter worth about $22,663,000. Principal Financial Group Inc. raised its stake in Trimble by 73.1% in the fourth quarter. Principal Financial Group Inc. now owns 677,217 shares of the scientific and technical instruments company’s stock worth $47,852,000 after buying an additional 285,907 shares in the last quarter. Finally, Polar Asset Management Partners Inc. raised its stake in Trimble by 607.8% in the third quarter. Polar Asset Management Partners Inc. now owns 261,900 shares of the scientific and technical instruments company’s stock worth $16,261,000 after buying an additional 224,900 shares in the last quarter. 93.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRMB. Oppenheimer increased their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Robert W. Baird upped their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Wednesday, December 11th. StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.00.

Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 have sold a total of 11,421 shares of company stock worth $831,683 over the last 90 days. 0.47% of the stock is currently owned by insiders.

Trimble Trading Up 4.5 %

NASDAQ:TRMB opened at $69.39 on Monday. The company’s 50 day moving average price is $72.62 and its 200-day moving average price is $68.02. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 3.09 and a beta of 1.57.

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.