Assenagon Asset Management S.A. Purchases 629,960 Shares of Trimble Inc. (NASDAQ:TRMB)

Assenagon Asset Management S.A. boosted its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 338.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 815,909 shares of the scientific and technical instruments company's stock after buying an additional 629,960 shares during the period. Assenagon Asset Management S.A. owned approximately 0.33% of Trimble worth $53,564,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new stake in Trimble during the fourth quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Trimble in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the fourth quarter worth about $36,000. Central Pacific Bank Trust Division increased its holdings 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 worth $37,000 after buying an additional 355 shares during the period. Finally, Larson Financial Group LLC increased its holdings 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 valued at $48,000 after purchasing an additional 422 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director now owns 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TRMB has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th. Finally, Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $88.43.

Trimble Stock Down 1.8%

TRMB stock traded down $1.28 during midday trading on Friday, hitting $71.08. The company's stock had a trading volume of 753,171 shares, compared to its average volume of 1,376,577. The company has a market cap of $16.96 billion, a PE ratio of 11.67, a P/E/G ratio of 3.09 and a beta of 1.68. 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 firm's 50-day moving average is $66.30 and its 200-day moving average is $69.63. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble Company 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.