ARK Investment Management LLC Has $58.21 Million Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

ARK Investment Management LLC lessened its holdings in Trimble Inc. (NASDAQ:TRMB) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 823,817 shares of the scientific and technical instruments company’s stock after selling 8,554 shares during the quarter. ARK Investment Management LLC owned 0.34% of Trimble worth $58,211,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TRMB. TD Private Client Wealth LLC lifted its stake in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 520 shares during the last quarter. Friedenthal Financial bought a new position in shares of Trimble in the 4th quarter valued at $49,000. Mather Group LLC. lifted its stake in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after acquiring an additional 343 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Trimble in the 3rd quarter valued at $49,000. Finally, Sentry Investment Management LLC bought a new position in shares of Trimble in the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Trimble Stock Performance

TRMB stock opened at $71.36 on Wednesday. The stock has a 50-day moving average price of $73.20 and a 200-day moving average price of $66.77. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm has a market cap of $17.54 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 3.09 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer increased their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.00.

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.