Insider Selling: TriNet Group Inc (TNET) CEO Sells 6,762 Shares of Stock

TriNet Group Inc (NYSE:TNET) CEO Burton M. Goldfield sold 6,762 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $54.24, for a total value of $366,770.88. Following the transaction, the chief executive officer now directly owns 207,228 shares in the company, valued at $11,240,046.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:TNET traded down $0.82 during midday trading on Monday, reaching $54.14. 14,442 shares of the company’s stock traded hands, compared to its average volume of 286,404. The company has a market cap of $3.89 billion, a P/E ratio of 31.95 and a beta of 2.39. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.18 and a quick ratio of 1.18. TriNet Group Inc has a one year low of $32.73 and a one year high of $60.15.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Monday, July 30th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.27. The firm had revenue of $220.00 million for the quarter, compared to the consensus estimate of $208.41 million. TriNet Group had a return on equity of 74.08% and a net margin of 6.54%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. sell-side analysts anticipate that TriNet Group Inc will post 2.39 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of TNET. SG Americas Securities LLC bought a new position in TriNet Group in the first quarter valued at about $144,000. BlackRock Inc. lifted its holdings in TriNet Group by 1.7% in the first quarter. BlackRock Inc. now owns 2,619,286 shares of the business services provider’s stock valued at $121,326,000 after acquiring an additional 44,044 shares during the period. Matarin Capital Management LLC bought a new position in TriNet Group in the first quarter valued at about $15,123,000. Sapphire Star Partners LP bought a new position in TriNet Group in the first quarter valued at about $329,000. Finally, Citigroup Inc. lifted its holdings in TriNet Group by 60.9% in the first quarter. Citigroup Inc. now owns 100,359 shares of the business services provider’s stock valued at $4,649,000 after acquiring an additional 37,990 shares during the period. 87.12% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on TNET shares. Zacks Investment Research downgraded TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Morgan Stanley upped their price target on TriNet Group from $51.00 to $55.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Credit Suisse Group started coverage on TriNet Group in a report on Friday, August 10th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on TriNet Group from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $61.75.

About TriNet Group

TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers 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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Insider Buying and Selling by Quarter for TriNet Group (NYSE:TNET)

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