Insider Selling: Garmin (NYSE:GRMN) CFO Sells 479 Shares of Stock

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 479 shares of Garmin stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $215.41, for a total value of $103,181.39. Following the transaction, the chief financial officer owned 28,488 shares of the company’s stock, valued at approximately $6,136,600.08. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Garmin Trading Up 1.4%

Garmin stock traded up $2.96 during mid-day trading on Tuesday, hitting $217.70. The company had a trading volume of 1,040,623 shares, compared to its average volume of 946,836. The company has a market capitalization of $41.87 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 2.27 and a beta of 1.00. Garmin Ltd. has a 12-month low of $169.26 and a 12-month high of $261.69. The company’s fifty day moving average is $206.52 and its 200-day moving average is $220.22.

Hedge Funds Weigh In On Garmin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quaker Wealth Management LLC raised its holdings in shares of Garmin by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 132 shares of the scientific and technical instruments company’s stock worth $28,000 after acquiring an additional 264 shares during the period. Richardson Financial Services Inc. increased its position in Garmin by 62.2% during the third quarter. Richardson Financial Services Inc. now owns 133 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Garmin by 788.9% during the third quarter. Cornerstone Planning Group LLC now owns 160 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 142 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new position in Garmin during the fourth quarter worth about $34,000. Finally, Tradewinds Capital Management LLC acquired a new position in Garmin in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 81.60% of the company’s stock.

Analysts Set New Price Targets

GRMN has been the subject of a number of recent analyst reports. Longbow Research raised shares of Garmin from a “neutral” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, December 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Garmin in a research note on Thursday, January 22nd. Tigress Financial reiterated a “strong-buy” rating on shares of Garmin in a research report on Friday, December 19th. Barclays raised Garmin from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $208.00 to $217.00 in a report on Friday, January 16th. Finally, Morgan Stanley upped their target price on Garmin from $193.00 to $195.00 and gave the stock an “underweight” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.40.

About Garmin

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.