TriNet Group Inc. (TNET) Insider William Porter Sells 6,000 Shares
TriNet Group Inc. (NYSE:TNET) insider William Porter sold 6,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the transaction, the insider now owns 544,851 shares of the company’s stock, valued at approximately $11,986,722. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
TriNet Group Inc. (NYSE:TNET) opened at 21.98 on Friday. The firm has a 50 day moving average of $21.14 and a 200 day moving average of $19.52. The firm has a market capitalization of $1.54 billion, a PE ratio of 38.56 and a beta of 2.73. TriNet Group Inc. has a one year low of $11.10 and a one year high of $22.97.
TriNet Group (NYSE:TNET) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. The company earned $745.80 million during the quarter, compared to analysts’ expectations of $148.11 million. TriNet Group had a return on equity of 439.36% and a net margin of 1.43%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. Equities analysts forecast that TriNet Group Inc. will post $1.16 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunriver Management LLC boosted its position in TriNet Group by 47.5% in the first quarter. Sunriver Management LLC now owns 343,800 shares of the company’s stock worth $4,934,000 after buying an additional 110,690 shares in the last quarter. Sterling Ridge Capital Management LP acquired a new position in TriNet Group during the first quarter worth about $264,000. A.R.T. Advisors LLC boosted its position in TriNet Group by 168.4% in the first quarter. A.R.T. Advisors LLC now owns 114,447 shares of the company’s stock worth $1,642,000 after buying an additional 71,800 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in TriNet Group during the first quarter worth about $684,000. Finally, Legal & General Group Plc boosted its position in TriNet Group by 31.9% in the first quarter. Legal & General Group Plc now owns 9,275 shares of the company’s stock worth $131,000 after buying an additional 2,245 shares in the last quarter. 78.91% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Saturday, August 6th. Jefferies Group raised their price objective on shares of TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Deutsche Bank AG raised their price objective on shares of TriNet Group from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. raised their price objective on shares of TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Finally, Morgan Stanley lowered shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.33.
About TriNet Group
TriNet Group, Inc (TriNet) is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s human resource solutions include offerings, such as multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; federal, state and local labor, employment and benefit law compliance; risk mitigation, including employment practices claims management; expense and time management, and human capital consulting.
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