Insider Selling: Garmin (NYSE:GRMN) Insider Sells 9,941 Shares

Key Points

• Garmin insider Cheng-Wei Wang sold 9,941 shares at an average price of $299.36, generating approximately $2.98 million. The transaction reduced his ownership by 25.2%, leaving him with 29,506 shares.
• Garmin reported quarterly EPS of $2.81, beating estimates of $2.30, while revenue rose 11.4% year over year to $2.02 billion. Shares recently traded at $293.14, near their 52-week high of $314.28.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $310.17; institutional investors own 81.6% of the company.

Garmin Ltd. (NYSE:GRMN - Get Free Report) insider Cheng-Wei Wang sold 9,941 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $299.36, for a total transaction of $2,975,937.76. Following the sale, the insider owned 29,506 shares of the company's stock, valued at approximately $8,832,916.16. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Garmin Stock Performance

Shares of GRMN stock traded down $2.53 on Thursday, reaching $293.14. The stock had a trading volume of 886,645 shares, compared to its average volume of 911,155. The stock has a market cap of $56.53 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 3.32 and a beta of 0.87. Garmin Ltd. has a 1 year low of $186.67 and a 1 year high of $314.28. The company has a 50 day simple moving average of $260.98 and a 200 day simple moving average of $246.33.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The scientific and technical instruments company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.30 by $0.51. Garmin had a return on equity of 20.95% and a net margin of 24.47%.The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. Garmin's revenue was up 11.4% compared to the same quarter last year. Garmin has set its FY 2026 guidance at 10.000-10.000 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 10.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC purchased a new position in shares of Garmin during the 2nd quarter valued at about $315,000. New Mexico Educational Retirement Board increased its holdings in Garmin by 8.1% in the 2nd quarter. New Mexico Educational Retirement Board now owns 8,050 shares of the scientific and technical instruments company's stock worth $1,912,000 after acquiring an additional 600 shares in the last quarter. Wellington Management Group LLP raised its stake in Garmin by 147.1% during the 2nd quarter. Wellington Management Group LLP now owns 69,049 shares of the scientific and technical instruments company's stock worth $16,402,000 after acquiring an additional 41,103 shares during the period. Archer Investment Corp bought a new stake in Garmin during the 2nd quarter worth approximately $38,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Garmin during the second quarter valued at approximately $13,327,000. Institutional investors own 81.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GRMN. Zacks Research upgraded shares of Garmin from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 31st. Barclays boosted their target price on shares of Garmin from $238.00 to $297.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Wall Street Zen cut shares of Garmin from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Morgan Stanley increased their price target on shares of Garmin from $249.00 to $289.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Garmin in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $310.17.

Garmin Company Profile

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin's products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin's product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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