TriNet Group Inc. (TNET) CEO Sells $2,475,990.00 in Stock
TriNet Group Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 99,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $25.01, for a total transaction of $2,475,990.00. Following the sale, the chief executive officer now owns 56,376 shares of the company’s stock, valued at $1,409,963.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
TriNet Group Inc. (NYSE:TNET) traded down 0.24% during mid-day trading on Monday, hitting $25.12. 304,614 shares of the stock were exchanged. TriNet Group Inc. has a 52-week low of $11.10 and a 52-week high of $25.40. The stock has a 50 day moving average of $20.96 and a 200-day moving average of $20.86. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 34.36 and a beta of 2.79.
TriNet Group (NYSE:TNET) last posted its earnings results on Tuesday, November 1st. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. TriNet Group had a net margin of 1.77% and a return on equity of 270.14%. The firm earned $770.50 million during the quarter, compared to analyst estimates of $152.36 million. During the same period last year, the firm posted $0.19 earnings per share. TriNet Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that TriNet Group Inc. will post $1.19 EPS for the current fiscal year.
A number of research firms recently commented on TNET. Zacks Investment Research lowered shares of TriNet Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 11th. Deutsche Bank AG boosted 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. boosted 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. Jefferies Group boosted 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. Finally, Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock. in a research report on Thursday, August 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.33.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of TriNet Group by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 164,821 shares of the company’s stock worth $3,426,000 after buying an additional 9,551 shares in the last quarter. Swiss National Bank increased its stake in shares of TriNet Group by 9.5% in the second quarter. Swiss National Bank now owns 69,300 shares of the company’s stock worth $1,441,000 after buying an additional 6,000 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of TriNet Group during the second quarter worth about $1,685,000. California State Teachers Retirement System increased its stake in shares of TriNet Group by 1.3% in the second quarter. California State Teachers Retirement System now owns 88,351 shares of the company’s stock worth $1,837,000 after buying an additional 1,156 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of TriNet Group by 233.0% in the second quarter. JPMorgan Chase & Co. now owns 889,392 shares of the company’s stock worth $18,491,000 after buying an additional 622,273 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.
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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