Proficio Capital Partners LLC Acquires New Stake in Trimble Inc. (NASDAQ:TRMB)

Proficio Capital Partners LLC bought a new stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 69,883 shares of the scientific and technical instruments company's stock, valued at approximately $4,938,000.

Other large investors also recently modified their holdings of the company. KBC Group NV grew its stake in shares of Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company's stock valued at $11,279,000 after acquiring an additional 71,891 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Trimble by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company's stock worth $46,594,000 after purchasing an additional 136,452 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Trimble by 76.5% during the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company's stock worth $2,496,000 after purchasing an additional 17,424 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in shares of Trimble by 768.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company's stock worth $9,295,000 after purchasing an additional 132,467 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Trimble by 49.1% during 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 purchasing an additional 676,954 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, VP Jennifer Allison sold 3,571 shares of the firm's 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 transaction, the vice president now owns 3,157 shares in the company, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the firm'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. Over the last 90 days, insiders have sold 11,421 shares of company stock valued at $831,683. Insiders own 0.47% of the company's stock.

Trimble Stock Performance

Shares of TRMB traded down $0.96 during mid-day trading on Thursday, reaching $70.68. 1,783,173 shares of the company's stock traded hands, compared to its average volume of 1,318,571. The business's 50-day moving average price is $72.55 and its 200-day moving average price is $68.23. The stock has a market capitalization of $17.37 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several research analyst reports. JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Sanford C. Bernstein raised their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Piper Sandler reissued an "overweight" rating and issued a $84.00 target price 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, Robert W. Baird raised their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trimble has a consensus rating of "Buy" and a consensus target price of $86.00.

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.