Garmin (NYSE:GRMN) CFO Douglas Boessen Sells 479 Shares

Garmin Ltd. (NYSE:GRMN) CFO Douglas Boessen sold 479 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $215.41, for a total transaction of $103,181.39. Following the sale, the chief financial officer directly 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 legal filing with the SEC, which can be accessed through this hyperlink.

Garmin Price Performance

Shares of GRMN stock traded up $2.96 during trading hours on Tuesday, reaching $217.70. 1,040,623 shares of the company traded hands, compared to its average volume of 946,836. The firm has a 50-day moving average price of $206.52 and a 200 day moving average price of $220.22. The company has a market cap of $41.87 billion, a P/E 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.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Garmin

A number of institutional investors have recently bought and sold shares of the business. Quaker Wealth Management LLC increased its stake in shares of Garmin by 200.0% in the second 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. lifted 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 valued at $33,000 after purchasing an additional 51 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Garmin in the fourth quarter valued at $34,000. Cornerstone Planning Group LLC grew its position in Garmin by 788.9% during the 3rd 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 period. Finally, GraniteShares Advisors LLC purchased a new position in shares of Garmin during the 4th quarter valued at about $41,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

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.