Trimble Inc. (NASDAQ:TRMB) Short Interest Up 19.9% in December

Trimble Inc. (NASDAQ:TRMB) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,470,000 shares, an increase of 19.9% from the November 30th total of 2,060,000 shares. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.0% of the company’s stock are sold short.

Trimble Stock Performance

TRMB stock traded down $1.10 during trading hours on Friday, reaching $71.20. The stock had a trading volume of 608,635 shares, compared to its average volume of 1,341,551. The stock has a 50-day simple moving average of $69.77 and a 200 day simple moving average of $61.25. Trimble has a fifty-two week low of $48.60 and a fifty-two week high of $76.97. The stock has a market capitalization of $17.39 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

Institutional Investors Weigh In On Trimble

Several hedge funds have recently bought and sold shares of TRMB. Victory Capital Management Inc. raised its stake in Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after buying an additional 3,589,249 shares during the period. AQR Capital Management LLC raised its stake in Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after acquiring an additional 1,093,275 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Trimble by 49.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after purchasing an additional 676,954 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after purchasing an additional 434,065 shares during the last quarter. Finally, Sora Investors LLC bought a new position in shares of Trimble in the third quarter valued at about $22,663,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRMB shares. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Monday, December 16th. Oppenheimer increased their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $84.86.

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.