ARK Investment Management LLC Has $58.21 Million Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

ARK Investment Management LLC cut its position in Trimble Inc. (NASDAQ:TRMB) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 823,817 shares of the scientific and technical instruments company’s stock after selling 8,554 shares during the quarter. ARK Investment Management LLC’s holdings in Trimble were worth $58,211,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake 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 buying an additional 520 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble in the 3rd quarter valued at about $49,000. Friedenthal Financial acquired a new stake in shares of Trimble in the 4th quarter valued at about $49,000. Mather Group LLC. grew its stake in shares of Trimble by 86.4% in the 4th quarter. Mather Group LLC. now owns 740 shares of the scientific and technical instruments company’s stock valued at $52,000 after buying an additional 343 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in shares of Trimble in the 3rd quarter valued at about $76,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

Trimble stock opened at $71.36 on Wednesday. Trimble Inc. has a 52 week low of $48.65 and a 52 week high of $77.78. The company’s 50 day moving average price is $73.20 and its two-hundred day moving average price is $66.77. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.54 billion, a P/E ratio of 11.72, a P/E/G ratio of 3.09 and a beta of 1.53.

Analysts Set New Price Targets

A number of research firms have issued reports on TRMB. Sanford C. Bernstein lifted their price target on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Oppenheimer lifted their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com upgraded Trimble from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $86.00.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

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.