Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Key Points

• Trimble Inc. experienced a **33.9% increase** in short interest during July, totaling **6,950,000 shares** as of July 31st, with about **2.9%** of its stock sold short.
• The company reported **earnings per share** of **$0.71** for its last quarter, beating estimates of **$0.63**, and achieved revenue of **$875.70 million**, surpassing consensus expectations of **$835.81 million**.
• Wall Street analysts have upgraded Trimble's stock ratings, with an average target price of **$90.50**, indicating overall optimism for the company's growth potential.

Trimble Inc. (NASDAQ:TRMB - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 6,950,000 shares, agrowthof33.9% from the July 15th total of 5,190,000 shares. Currently,2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 4.4 days. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is presently 4.4 days. Currently,2.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

TRMB has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $90.50.

Trimble Price Performance

NASDAQ:TRMB traded up $2.31 on Friday, hitting $82.58. The company had a trading volume of 880,334 shares, compared to its average volume of 1,975,415. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 3.39 and a beta of 1.69. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $80.02 and a two-hundred day moving average of $71.98. Trimble has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, research analysts anticipate that Trimble will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company's stock, valued at approximately $1,680,080. The trade was a 6.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president directly owned 2,882 shares of the company's stock, valued at $230,560. The trade was a 52.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,383 shares of company stock valued at $18,529,318. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new position in shares of Trimble during the second quarter valued at $34,000. Geneos Wealth Management Inc. raised its stake in Trimble by 55.4% during the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company's stock worth $36,000 after buying an additional 169 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares during the last quarter. Flaharty Asset Management LLC bought a new position in Trimble during the first quarter worth $45,000. Finally, Osterweis Capital Management Inc. increased its stake in Trimble by 5,790.0% in the second quarter. Osterweis Capital Management Inc. now owns 589 shares of the scientific and technical instruments company's stock valued at $45,000 after purchasing an additional 579 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

About Trimble

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.