TriNet Group, Inc. (NYSE:TNET) CEO Burton M. Goldfield Sells 6,250 Shares

TriNet Group, Inc. (NYSE:TNET – Get Rating) CEO Burton M. Goldfield sold 6,250 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $91.33, for a total transaction of $570,812.50. Following the completion of the sale, the chief executive officer now owns 181,863 shares of the company’s stock, valued at $16,609,547.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

TriNet Group Stock Performance

NYSE:TNET traded up $0.31 during trading hours on Friday, hitting $89.78. 196,996 shares of the company traded hands, compared to its average volume of 369,559. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 16.26 and a beta of 1.16. TriNet Group, Inc. has a twelve month low of $60.60 and a twelve month high of $95.61. The firm has a 50-day moving average of $85.68 and a 200 day moving average of $78.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60.

TriNet Group (NYSE:TNET – Get Rating) last released its earnings results on Wednesday, April 26th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $1.77 by $0.58. The firm had revenue of $394.00 million during the quarter, compared to analysts’ expectations of $364.55 million. TriNet Group had a net margin of 6.96% and a return on equity of 47.82%. On average, analysts forecast that TriNet Group, Inc. will post 4.71 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of TriNet Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Cowen boosted their price objective on shares of TriNet Group from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday, February 16th. Finally, Needham & Company LLC assumed coverage on shares of TriNet Group in a research note on Friday, May 12th. They issued a “buy” rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Hedge Funds Weigh In On TriNet Group

A number of hedge funds have recently made changes to their positions in TNET. Raymond James & Associates raised its stake in shares of TriNet Group by 13.5% in the 1st quarter. Raymond James & Associates now owns 5,307 shares of the business services provider’s stock valued at $522,000 after buying an additional 631 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of TriNet Group by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 192,517 shares of the business services provider’s stock worth $18,937,000 after purchasing an additional 6,480 shares in the last quarter. Citigroup Inc. increased its position in shares of TriNet Group by 46.5% during the 1st quarter. Citigroup Inc. now owns 39,685 shares of the business services provider’s stock worth $3,904,000 after purchasing an additional 12,604 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of TriNet Group by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 21,581 shares of the business services provider’s stock worth $2,123,000 after purchasing an additional 7,535 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of TriNet Group by 8.0% during the 1st quarter. Rhumbline Advisers now owns 44,248 shares of the business services provider’s stock worth $4,352,000 after purchasing an additional 3,280 shares in the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.

About TriNet Group

(Get Rating)

TriNet Group, Inc provides human capital management (HCM) solutions to small and mid-sized businesses. Its services include HR expertise, benefit options, payroll services, risk mitigation, and a technology platform. The company was founded by Martin Babinec in 1988 and is headquartered in Dublin, CA.