Trimble Inc. (NASDAQ:TRMB) Short Interest Up 45.3% in March

Trimble Inc. (NASDAQ:TRMB) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,300,000 shares, a growth of 45.3% from the February 28th total of 2,960,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 1,530,000 shares, the days-to-cover ratio is currently 2.8 days.

Trimble Stock Performance

TRMB stock opened at $65.52 on Friday. The company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 3.09 and a beta of 1.57. The firm has a 50 day moving average of $72.15 and a two-hundred day moving average of $68.93. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble has a 12 month low of $48.65 and a 12 month high of $77.78.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TRMB shares. StockNews.com lowered Trimble from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 3rd. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Thursday, February 20th. Sanford C. Bernstein boosted their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.00.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares of the company’s stock, valued at $235,985.75. This trade represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Several hedge funds have recently bought and sold shares of TRMB. Crowley Wealth Management Inc. bought a new stake in shares of Trimble during the 4th quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Trimble during the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble during the fourth quarter worth approximately $36,000. TD Private Client Wealth LLC grew its holdings in Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 422 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

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.