Short Interest in Trimble Inc. (NASDAQ:TRMB) Increases By 45.3%

Trimble Inc. (NASDAQ:TRMB) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,300,000 shares, an increase of 45.3% from the February 28th total of 2,960,000 shares. Based on an average trading volume of 1,530,000 shares, the short-interest ratio is presently 2.8 days. Approximately 1.8% of the shares of the company are sold short.

Trimble Price Performance

TRMB stock traded down $0.69 during trading on Monday, hitting $64.84. The stock had a trading volume of 244,703 shares, compared to its average volume of 1,366,372. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The company’s 50 day moving average price is $72.15 and its two-hundred day moving average price is $69.03. Trimble has a 1-year low of $48.65 and a 1-year high of $77.78.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TRMB shares. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Monday, December 16th. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research note on Thursday, February 20th. Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $86.00.

Insider Buying and Selling at Trimble

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the sale, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,421 shares of company stock valued at $831,683 in the last ninety days. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently modified their holdings of TRMB. KBC Group NV grew its stake in Trimble by 81.9% in the 4th quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock worth $11,279,000 after acquiring an additional 71,891 shares during the period. JPMorgan Chase & Co. grew its position in shares of Trimble by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock valued at $46,594,000 after purchasing an additional 136,452 shares during the period. Benjamin Edwards Inc. grew its position in shares of Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after purchasing an additional 17,424 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Trimble by 768.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock valued at $9,295,000 after purchasing an additional 132,467 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in Trimble during the fourth quarter worth about $406,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.