Trimble (NASDAQ:TRMB) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Trimble Inc. (NASDAQ:TRMB)’s share price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $60.68 and traded as low as $52.33. Trimble shares last traded at $54.25, with a volume of 6,877,163 shares.

More Trimble News

Here are the key news stories impacting Trimble this week:

• Positive Sentiment: Trimble reported Q3 revenue of about $967 million, up 7.3% year over year, and adjusted EPS of $0.86, matching analysts’ estimates. The company also reported record annualized recurring revenue of $2.564 billion. Trimble Q3 results and guidance
• Neutral Sentiment: Management’s earnings call highlighted continued growth and progress on its Connect & Scale strategy, while acknowledging market headwinds. Earnings call highlights
• Negative Sentiment: The company lowered its growth outlook as the European freight market slowed. That guidance revision appears to have outweighed the modest revenue beat and recurring-revenue progress, prompting the sharp share-price decline. European freight slowdown and outlook

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TRMB. Wells Fargo & Company reduced their price objective on shares of Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective on shares of Trimble in a research note on Thursday, August 13th. Sanford C. Bernstein dropped their price objective on Trimble from $85.00 to $73.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Finally, Weiss Ratings raised shares of Trimble from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.56.

Trimble Trading Down 17.3%

The company has a market cap of $12.65 billion, a P/E ratio of -110.71, a PEG ratio of 2.12 and a beta of 1.32. The company has a current ratio of 0.95, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $59.94 and a 200-day moving average price of $60.68.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. Trimble had a negative net margin of 2.77% and a positive return on equity of 12.29%. The firm had revenue of $966.80 million during the quarter, compared to analysts’ expectations of $966.41 million. During the same period in the previous year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts forecast that Trimble Inc. will post 3.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 2,476 shares of Trimble stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the sale, the director owned 14,950 shares in the company, valued at $971,750. The trade was a 14.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Trimble

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Trimble in the second quarter valued at about $1,096,304,000. Generation Investment Management LLP acquired a new position in Trimble during the 2nd quarter worth approximately $367,994,000. Primecap Management Co. CA acquired a new stake in Trimble in the 2nd quarter valued at $200,405,000. Legal & General Group Plc acquired a new stake in shares of Trimble in the 2nd quarter worth about $112,613,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Trimble in the second quarter worth approximately $109,046,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Company Profile

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company’s products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.