Burton M. Goldfield Sells 99,000 Shares of TriNet Group Inc. (TNET) Stock
TriNet Group Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 99,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $25.01, for a total transaction of $2,475,990.00. Following the completion of the transaction, the chief executive officer now directly owns 56,376 shares of the company’s stock, valued at $1,409,963.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of TriNet Group Inc. (NYSE:TNET) opened at 25.25 on Wednesday. The company’s 50 day moving average is $21.08 and its 200-day moving average is $20.94. The company has a market capitalization of $1.74 billion, a P/E ratio of 34.54 and a beta of 2.79. TriNet Group Inc. has a 1-year low of $11.10 and a 1-year high of $25.41.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.29 EPS for the quarter, topping 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 business had revenue of $770.50 million for the quarter, compared to analyst estimates of $152.36 million. During the same period last year, the firm earned $0.19 earnings per share. TriNet Group’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts forecast that TriNet Group Inc. will post $1.19 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new position in TriNet Group during the third quarter worth approximately $283,000. D. E. Shaw & Co. Inc. raised its position in TriNet Group by 18.0% in the third quarter. D. E. Shaw & Co. Inc. now owns 241,842 shares of the company’s stock worth $5,231,000 after buying an additional 36,900 shares in the last quarter. Gotham Asset Management LLC acquired a new position in TriNet Group during the third quarter worth approximately $811,000. The Manufacturers Life Insurance Company acquired a new position in TriNet Group during the third quarter worth approximately $641,000. Finally, HBK Investments L P raised its position in TriNet Group by 15.7% in the third quarter. HBK Investments L P now owns 26,644 shares of the company’s stock worth $576,000 after buying an additional 3,625 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.
TNET has been the subject of a number of research analyst reports. Deutsche Bank AG set a $25.00 target price on shares of TriNet Group and gave the stock a “buy” rating in a research note on Tuesday, October 18th. Morgan Stanley downgraded shares of TriNet Group from an “overweight” rating to an “equal weight” rating and set a $22.00 target price for the company. in a research note on Thursday, August 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of TriNet Group from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Thursday, November 10th. Jefferies Group boosted their target price on shares of TriNet Group from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. boosted their target price on shares of TriNet Group from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. TriNet Group currently has an average rating of “Hold” and a consensus price target of $22.33.
TriNet Group Company Profile
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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