TriNet Group Inc. (TNET) CEO Sells $990,000.00 in Stock
TriNet Group Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 44,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $22.50, for a total value of $990,000.00. Following the completion of the sale, the chief executive officer now owns 5,774 shares of the company’s stock, valued at $129,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 22.86 on Wednesday. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 31.27 and a beta of 2.79. The firm has a 50-day moving average price of $20.46 and a 200 day moving average price of $20.55. TriNet Group Inc. has a one year low of $11.10 and a one year high of $23.00.
TriNet Group (NYSE:TNET) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The business earned $770.50 million during the quarter, compared to analysts’ expectations of $152.36 million. TriNet Group had a return on equity of 270.14% and a net margin of 1.77%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Equities analysts forecast that TriNet Group Inc. will post $1.19 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded TriNet Group from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, November 10th. Deutsche Bank AG set a $25.00 price target on TriNet Group and gave the company a “buy” rating in a research report on Tuesday, October 18th. Jefferies Group lifted their price target on TriNet Group from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 5th. Morgan Stanley cut TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price target for the company. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Finally, Piper Jaffray Cos. lifted their price target on TriNet Group from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.33.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in TriNet Group by 23.6% in the second quarter. Teacher Retirement System of Texas now owns 5,895 shares of the company’s stock valued at $123,000 after buying an additional 1,127 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of TriNet Group by 143.8% in the third quarter. Great West Life Assurance Co. Can now owns 7,315 shares of the company’s stock worth $158,000 after buying an additional 4,315 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of TriNet Group during the second quarter worth about $205,000. AMP Capital Investors Ltd purchased a new stake in shares of TriNet Group during the third quarter worth about $210,000. Finally, Sei Investments Co. boosted its stake in shares of TriNet Group by 111.7% in the third quarter. Sei Investments Co. now owns 10,636 shares of the company’s stock worth $230,000 after buying an additional 5,611 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.
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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