Wealthfront Advisers LLC Decreases Holdings in Trimble Inc. (NASDAQ:TRMB)

Wealthfront Advisers LLC cut its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 76.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Trimble in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new position in Trimble during the 4th quarter worth approximately $36,000. TD Private Client Wealth LLC increased its position in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 520 shares in the last quarter. Larson Financial Group LLC increased its position in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 422 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in Trimble in the 4th quarter valued at approximately $49,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock worth $831,683 over the last quarter. Insiders own 0.47% of the company's stock.

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Trimble Stock Down 1.3 %

Shares of Trimble stock traded down $0.96 during trading hours on Thursday, reaching $70.68. The company's stock had a trading volume of 1,783,173 shares, compared to its average volume of 1,318,571. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78. The company has a market capitalization of $17.37 billion, a P/E ratio of 11.61, a P/E/G ratio of 3.09 and a beta of 1.57. The stock's fifty day simple moving average is $72.55 and its two-hundred day simple moving average is $68.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Trimble from a "neutral" rating to an "overweight" rating and upped their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird upped their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday, December 11th. Wolfe Research raised shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a research note on Monday, December 16th. Finally, Sanford C. Bernstein upped their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Trimble has an average rating of "Buy" and a consensus target price of $86.00.

Trimble 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.