TriNet Group, Inc. (TNET) Shares Sold by PDT Partners LLC
PDT Partners LLC reduced its stake in shares of TriNet Group, Inc. (NYSE:TNET) by 34.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,773 shares of the business services provider’s stock after selling 20,827 shares during the quarter. PDT Partners LLC owned about 0.06% of TriNet Group worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Voya Investment Management LLC grew its holdings in TriNet Group by 18.3% during the 2nd quarter. Voya Investment Management LLC now owns 19,608 shares of the business services provider’s stock valued at $642,000 after buying an additional 3,036 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in TriNet Group during the 2nd quarter valued at approximately $5,218,000. OxFORD Asset Management LLP grew its holdings in shares of TriNet Group by 7.8% in the second quarter. OxFORD Asset Management LLP now owns 101,367 shares of the business services provider’s stock valued at $3,319,000 after purchasing an additional 7,345 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TriNet Group by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,026,624 shares of the business services provider’s stock valued at $33,612,000 after purchasing an additional 75,862 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of TriNet Group in the second quarter valued at $873,000. 54.58% of the stock is owned by institutional investors and hedge funds.
In other TriNet Group news, CEO Burton M. Goldfield sold 13,317 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $32.91, for a total value of $438,262.47. Following the completion of the sale, the chief executive officer now directly owns 31,225 shares in the company, valued at approximately $1,027,614.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Edward Griese sold 3,494 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $35.45, for a total value of $123,862.30. Following the completion of the sale, the vice president now owns 8,504 shares of the company’s stock, valued at $301,466.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 392,979 shares of company stock valued at $14,272,889. 42.40% of the stock is owned by corporate insiders.
TriNet Group, Inc. (TNET) opened at 34.93 on Friday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.47 and a beta of 2.89. The company has a 50 day moving average of $34.80 and a 200-day moving average of $32.55. TriNet Group, Inc. has a 12-month low of $17.78 and a 12-month high of $41.58.
TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Monday, July 31st. The business services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.18. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. The firm had revenue of $201.01 million during the quarter, compared to the consensus estimate of $168.27 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts forecast that TriNet Group, Inc. will post $1.49 earnings per share for the current year.
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A number of research firms recently weighed in on TNET. BidaskClub raised shares of TriNet Group from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research lowered shares of TriNet Group from a “hold” rating to a “sell” rating in a report on Wednesday. J P Morgan Chase & Co lowered shares of TriNet Group from a “neutral” rating to an “underweight” rating and raised their target price for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Morgan Stanley lowered shares of TriNet Group from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. TriNet Group presently has an average rating of “Hold” and a consensus price target of $37.40.
TriNet Group Profile
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.
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