Wealthfront Advisers LLC Acquires 3,519 Shares of Trimble Inc. (NASDAQ:TRMB)

Wealthfront Advisers LLC boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,709 shares of the scientific and technical instruments company's stock after buying an additional 3,519 shares during the quarter. Wealthfront Advisers LLC's holdings in Trimble were worth $2,279,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TRMB. Crowley Wealth Management Inc. acquired a new position in Trimble during the fourth quarter worth $28,000. Central Pacific Bank Trust Division grew its position in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares during the last quarter. Putney Financial Group LLC acquired a new stake in shares of Trimble in the fourth quarter valued at about $51,000. Quarry LP grew its position in shares of Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after purchasing an additional 402 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after purchasing an additional 591 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Trimble

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the sale, the director owned 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark David Schwartz sold 1,404 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,047 shares of company stock worth $1,538,152. Insiders own 0.54% of the company's stock.

Trimble Stock Up 0.0%

NASDAQ:TRMB traded up $0.02 on Friday, hitting $82.04. 1,597,190 shares of the company's stock were exchanged, compared to its average volume of 1,416,063. The firm has a 50-day moving average price of $74.19 and a 200-day moving average price of $70.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $82.44. The company has a market cap of $19.57 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 3.49 and a beta of 1.67.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Oppenheimer increased their target price on shares of Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a research note on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Trimble from $88.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $89.14.

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.