Insider Selling: Garmin Ltd. (GRMN) Major Shareholder Sells $15,334,330.00 in Stock

Garmin Ltd. (NASDAQ:GRMN) major shareholder Jonathan Burrell sold 253,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $60.61, for a total transaction of $15,334,330.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Jonathan Burrell also recently made the following trade(s):

  • On Monday, November 13th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $60.37, for a total transaction of $7,666,990.00.
  • On Wednesday, November 8th, Jonathan Burrell sold 253,000 shares of Garmin stock. The shares were sold at an average price of $59.29, for a total transaction of $15,000,370.00.
  • On Monday, November 6th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $59.33, for a total transaction of $7,534,910.00.
  • On Tuesday, September 12th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $52.14, for a total transaction of $6,621,780.00.
  • On Wednesday, September 13th, Jonathan Burrell sold 253,000 shares of Garmin stock. The shares were sold at an average price of $52.13, for a total transaction of $13,188,890.00.
  • On Monday, September 11th, Jonathan Burrell sold 127,000 shares of Garmin stock. The shares were sold at an average price of $52.25, for a total transaction of $6,635,750.00.
  • On Tuesday, August 22nd, Jonathan Burrell sold 231,500 shares of Garmin stock. The shares were sold at an average price of $51.20, for a total transaction of $11,852,800.00.

Shares of Garmin Ltd. (NASDAQ:GRMN) opened at $61.45 on Friday. The stock has a market cap of $12,171.83, a P/E ratio of 21.34, a PEG ratio of 2.54 and a beta of 0.81. Garmin Ltd. has a 52-week low of $47.03 and a 52-week high of $61.75.

Garmin (NASDAQ:GRMN) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The business had revenue of $743.00 million during the quarter, compared to analyst estimates of $722.00 million. Garmin had a net margin of 22.65% and a return on equity of 15.23%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. sell-side analysts anticipate that Garmin Ltd. will post 2.9 EPS for the current fiscal year.

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A number of analysts have commented on the stock. BidaskClub lowered shares of Garmin from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Longbow Research reaffirmed a “buy” rating on shares of Garmin in a research note on Thursday, August 3rd. Morgan Stanley upped their price objective on shares of Garmin from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Garmin in a research note on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.33.

Several hedge funds and other institutional investors have recently bought and sold shares of GRMN. WFG Advisors LP lifted its position in shares of Garmin by 11.5% in the second quarter. WFG Advisors LP now owns 2,175 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 225 shares in the last quarter. US Bancorp DE raised its position in Garmin by 8.8% during the second quarter. US Bancorp DE now owns 2,215 shares of the scientific and technical instruments company’s stock valued at $113,000 after acquiring an additional 180 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Garmin by 72.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,741 shares of the scientific and technical instruments company’s stock valued at $191,000 after acquiring an additional 1,568 shares in the last quarter. Profund Advisors LLC bought a new position in Garmin during the second quarter valued at approximately $202,000. Finally, Bank of Hawaii bought a new position in Garmin during the third quarter valued at approximately $206,000. 38.01% of the stock is owned by institutional investors and hedge funds.

About Garmin

Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.

Insider Buying and Selling by Quarter for Garmin (NASDAQ:GRMN)

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