Conestoga Capital Advisors LLC Sells 150 Shares of Garmin Ltd. (NYSE:GRMN)

Conestoga Capital Advisors LLC trimmed its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 10.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,220 shares of the scientific and technical instruments company’s stock after selling 150 shares during the period. Conestoga Capital Advisors LLC’s holdings in Garmin were worth $215,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of GRMN. Norden Group LLC purchased a new position in shares of Garmin in the 1st quarter worth about $847,000. Ashton Thomas Private Wealth LLC lifted its stake in Garmin by 55.4% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 6,233 shares of the scientific and technical instruments company’s stock worth $928,000 after purchasing an additional 2,223 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Garmin by 4.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 135,709 shares of the scientific and technical instruments company’s stock worth $20,203,000 after acquiring an additional 5,863 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Garmin during the first quarter valued at approximately $164,000. Finally, Nordea Investment Management AB increased its stake in Garmin by 4.4% in the first quarter. Nordea Investment Management AB now owns 10,111 shares of the scientific and technical instruments company’s stock valued at $1,503,000 after acquiring an additional 430 shares during the last quarter. 73.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GRMN shares. Barclays raised their price objective on Garmin from $133.00 to $158.00 and gave the company an “underweight” rating in a research note on Friday. Morgan Stanley downgraded shares of 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. Tigress Financial increased their price target on Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. Finally, StockNews.com lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.67.

Insiders Place Their Bets

In other news, insider Cheng-Wei Wang sold 10,055 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $177.16, for a total transaction of $1,781,343.80. Following the completion of the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares of the company’s stock, valued at $7,257,359.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $181.46, for a total value of $499,015.00. Following the completion of the transaction, the director now directly owns 88,622 shares of the company’s stock, valued at approximately $16,081,348.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,892 shares of company stock worth $2,296,174. Company insiders own 19.54% of the company’s stock.

Garmin Stock Down 0.1 %

Shares of GRMN traded down $0.24 during mid-day trading on Friday, hitting $198.11. 499,201 shares of the company traded hands, compared to its average volume of 849,079. The company has a market capitalization of $38.08 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.52 and a beta of 0.99. The business has a 50 day moving average of $173.85 and a 200 day moving average of $167.23. Garmin Ltd. has a 1-year low of $112.01 and a 1-year high of $207.22.

Garmin (NYSE:GRMN) last posted its earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.46 by $0.53. Garmin had a return on equity of 17.99% and a net margin of 25.48%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned $1.41 earnings per share. Garmin’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, research analysts expect that Garmin Ltd. will post 6.09 EPS for the current fiscal year.

Garmin Company 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.