Burton M. Goldfield Sells 24,676 Shares of TriNet Group, Inc. (TNET) Stock
TriNet Group, Inc. (NYSE:TNET) CEO Burton M. Goldfield sold 24,676 shares of TriNet Group stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $35.29, for a total transaction of $870,816.04. Following the transaction, the chief executive officer now directly owns 30,707 shares in the company, valued at approximately $1,083,650.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
TriNet Group, Inc. (NYSE TNET) traded down 0.08% during trading on Friday, hitting $35.31. 34,297 shares of the stock traded hands. The stock has a market cap of $2.45 billion, a P/E ratio of 23.73 and a beta of 2.94. TriNet Group, Inc. has a 52-week low of $17.78 and a 52-week high of $41.58. The stock has a 50 day moving average price of $35.13 and a 200-day moving average price of $30.63.
TriNet Group (NYSE:TNET) last announced its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $168.27 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that TriNet Group, Inc. will post $1.48 EPS for the current fiscal year.
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TNET has been the topic of several analyst reports. BidaskClub raised shares of TriNet Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Zacks Investment Research raised shares of TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a report on Saturday, August 5th. Deutsche Bank AG lifted their price target on shares of TriNet Group from $30.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Finally, J P Morgan Chase & Co downgraded shares of TriNet Group from a “neutral” rating to an “underweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.25.
Several hedge funds and other institutional investors have recently made changes to their positions in TNET. Dynamic Technology Lab Private Ltd acquired a new position in shares of TriNet Group during the first quarter worth about $434,000. Globeflex Capital L P purchased a new position in shares of TriNet Group during the first quarter worth $409,000. Bank of America Corp DE raised its position in shares of TriNet Group by 21.2% in the first quarter. Bank of America Corp DE now owns 213,234 shares of the business services provider’s stock worth $6,162,000 after buying an additional 37,295 shares during the last quarter. Swiss National Bank raised its position in shares of TriNet Group by 3.1% in the first quarter. Swiss National Bank now owns 69,300 shares of the business services provider’s stock worth $2,003,000 after buying an additional 2,100 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of TriNet Group by 123.4% in the fourth quarter. Teachers Advisors LLC now owns 175,545 shares of the business services provider’s stock worth $4,497,000 after buying an additional 96,971 shares during the last quarter. Hedge funds and other institutional investors own 52.87% of the company’s stock.
About TriNet Group
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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