In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Garmin Ltd. (NASDAQ:GRMN) reported that Burrell Jonathan has picked up 28,502,970 of common stock as of 2017-02-24.
The acquisition brings the aggregate amount owned by Burrell Jonathan to a total of 28,502,970 representing a 15.1% stake in the company.
For those not familiar with the company, Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. Garmin designs, develops, manufactures, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products. It operates through five business segments: marine, outdoor, fitness, auto and aviation. Garmin 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 designed for use in outdoor activities. It offers products designed for use in fitness and activity tracking. It offers a range of products designed for use in the recreational marine industry. It offers products designed for use in the recreational marine industry. Its aviation product line includes GPS-enabled navigation and very high frequency (VHF) communications transmitters/receivers.
A glance at Garmin Ltd. (NASDAQ:GRMN)’s key stats reveals a current market capitalization of 10.06 billion based on 188.56 million shares outstanding and a price at last close of $52.72 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-08-18, Hartnett picked up 1,000 at a purchase price of $55.94. This brings their total holding to 5,412 as of the date of the filing.
On the sell side, the most recent transaction saw Etkind unload 2,488 shares at a sale price of $55.00. This brings their total holding to 44,039.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Garmin Ltd. (NASDAQ:GRMN) as things move forward to see if its progress aligns with these transactions.
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