Essex Investment Management Co. LLC Sells 3,761 Shares of Trimble Inc. (NASDAQ:TRMB)

Essex Investment Management Co. LLC decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,785 shares of the scientific and technical instruments company's stock after selling 3,761 shares during the quarter. Essex Investment Management Co. LLC's holdings in Trimble were worth $1,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRMB. OneDigital Investment Advisors LLC grew its position in Trimble by 30.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after purchasing an additional 943 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after acquiring an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after acquiring an additional 2,397 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after acquiring an additional 5,472 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after acquiring an additional 4,185 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and set a $84.00 target price on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Oppenheimer upped their price target on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Trimble has a consensus rating of "Buy" and a consensus price target of $89.14.

Insider Activity at Trimble

In other news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the completion of the sale, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,059,357.94. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,047 shares of company stock worth $1,538,152. Corporate insiders own 0.54% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB traded down $1.25 during trading on Friday, reaching $82.64. The company had a trading volume of 2,156,246 shares, compared to its average volume of 1,552,027. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $86.42. The stock has a market cap of $19.72 billion, a PE ratio of 13.48, a PEG ratio of 3.63 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The business's 50 day moving average price is $76.47 and its 200-day moving average price is $71.16.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the company earned $0.64 EPS. Trimble's revenue was down 11.8% on a year-over-year basis. Analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.

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.