Garmin Ltd. (NYSE:GRMN) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lowered its stake in Garmin Ltd. (NYSE:GRMN) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,087 shares of the scientific and technical instruments company’s stock after selling 516 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Garmin were worth $637,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. FMR LLC grew its stake in Garmin by 40.8% during the 3rd quarter. FMR LLC now owns 3,775,154 shares of the scientific and technical instruments company’s stock valued at $664,540,000 after purchasing an additional 1,093,219 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Garmin during the 3rd quarter valued at approximately $53,252,000. Jacobs Levy Equity Management Inc. grew its stake in Garmin by 1,580.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,283 shares of the scientific and technical instruments company’s stock valued at $50,570,000 after purchasing an additional 270,186 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Garmin by 123.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 486,281 shares of the scientific and technical instruments company’s stock valued at $85,600,000 after purchasing an additional 268,996 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in Garmin during the 3rd quarter valued at approximately $45,501,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GRMN. Tigress Financial raised their price objective on Garmin from $215.00 to $265.00 and gave the company a “strong-buy” rating in a research note on Monday, December 16th. Barclays increased their target price on Garmin from $133.00 to $158.00 and gave the stock an “underweight” rating in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.00.

Insider Buying and Selling

In related news, CFO Douglas G. Boessen sold 1,761 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $207.99, for a total value of $366,270.39. Following the sale, the chief financial officer now owns 27,612 shares of the company’s stock, valued at approximately $5,743,019.88. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.54% of the company’s stock.

Garmin Stock Down 1.0 %

NYSE:GRMN opened at $217.52 on Friday. The business’s 50 day moving average is $213.02 and its two-hundred day moving average is $192.02. Garmin Ltd. has a 52 week low of $120.06 and a 52 week high of $223.33. The company has a market cap of $41.77 billion, a PE ratio of 27.60, a P/E/G ratio of 1.30 and a beta of 0.98.

About Garmin

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.