Stock Traders Buy High Volume of Put Options on Trimble (NASDAQ:TRMB)

Trimble Inc. (NASDAQ:TRMB) was the recipient of unusually large options trading on Monday. Investors bought 16,767 put options on the company. This represents an increase of 870% compared to the typical volume of 1,729 put options.

Insiders Place Their Bets

In related news, Director James Calvin Dalton sold 2,141 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,421 shares of company stock worth $831,683. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Trimble

Institutional investors and hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Trimble by 59.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 26,798 shares of the scientific and technical instruments company’s stock worth $1,759,000 after acquiring an additional 10,033 shares during the period. Wellington Management Group LLP increased its stake in shares of Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock worth $1,580,000 after purchasing an additional 5,472 shares during the period. 111 Capital bought a new position in shares of Trimble in the fourth quarter worth about $1,162,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Trimble by 9.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,479 shares of the scientific and technical instruments company’s stock worth $2,366,000 after purchasing an additional 2,927 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in Trimble during the 4th quarter valued at approximately $928,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Down 0.4 %

Shares of Trimble stock opened at $65.38 on Wednesday. Trimble has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $71.74 and a two-hundred day moving average price of $69.16. The stock has a market capitalization of $16.07 billion, a P/E ratio of 10.74, a PEG ratio of 3.09 and a beta of 1.57.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of research reports. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a report on Thursday, February 20th. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Robert W. Baird boosted their target price 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. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trimble currently has an average rating of “Buy” and an average target price of $86.00.

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.