Magnetar Financial LLC Cuts Holdings in Trimble Inc. (NASDAQ:TRMB)

Magnetar Financial LLC decreased its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 52.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new position in shares of Trimble in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the 4th quarter valued at about $36,000. TD Private Client Wealth LLC increased its holdings 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. Larson Financial Group LLC increased its holdings in shares of Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Trimble in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 0.2 %

Trimble stock opened at $70.54 on Monday. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $77.78. The stock has a 50 day moving average of $72.52 and a two-hundred day moving average of $68.53. 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 capitalization of $17.34 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 3.09 and a beta of 1.57.

Analysts Set New Price Targets

TRMB has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report 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. Oppenheimer upped their target price on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trimble presently has an average rating of “Buy” and a consensus target price of $86.00.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by company insiders.

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.