Magnetar Financial LLC Sells 4,461 Shares of Trimble Inc. (NASDAQ:TRMB)

Magnetar Financial LLC decreased its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,009 shares of the scientific and technical instruments company's stock after selling 4,461 shares during the quarter. Magnetar Financial LLC's holdings in Trimble were worth $283,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Teacher Retirement System of Texas bought a new stake in shares of Trimble in the 4th quarter worth about $5,198,000. Royal London Asset Management Ltd. grew its stake in Trimble by 1.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 101,868 shares of the scientific and technical instruments company's stock worth $7,198,000 after buying an additional 1,456 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Trimble during the fourth quarter worth approximately $113,000. Vinva Investment Management Ltd raised its stake in shares of Trimble by 80.4% in the fourth quarter. Vinva Investment Management Ltd now owns 9,665 shares of the scientific and technical instruments company's stock valued at $681,000 after acquiring an additional 4,307 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Trimble by 1.9% in the 4th quarter. Xponance Inc. now owns 36,070 shares of the scientific and technical instruments company's stock worth $2,549,000 after acquiring an additional 670 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TRMB shares. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. StockNews.com cut Trimble from a "strong-buy" rating to a "buy" rating in a report on Monday, March 3rd. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Wolfe Research raised shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 target price for the company in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and raised their price target for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $86.00.

Trimble Trading Down 1.4 %

Shares of NASDAQ:TRMB traded down $0.96 during midday trading on Thursday, hitting $67.98. The company had a trading volume of 1,242,282 shares, compared to its average volume of 1,327,447. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78. The firm has a fifty day simple moving average of $72.46 and a 200 day simple moving average of $68.76. 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 stock has a market cap of $16.71 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.09 and a beta of 1.57.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher F. Keating sold 5,709 shares of the company's 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 sold a total of 11,421 shares of company stock valued at $831,683 in the last ninety days. 0.47% of the stock is owned by insiders.

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.