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Insider Selling: TriNet Group Inc (NYSE:TNET) Director Sells 26,000 Shares of Stock

Last updated on Wednesday, September 23, 2020 | 2020 MarketBeat

TriNet Group Inc (NYSE:TNET) Director Martin Babinec sold 26,000 shares of the company's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $58.41, for a total transaction of $1,518,660.00. Following the sale, the director now directly owns 5,773 shares in the company, valued at $337,200.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Martin Babinec also recently made the following trade(s):

  • On Wednesday, July 15th, Martin Babinec sold 51,205 shares of TriNet Group stock. The stock was sold at an average price of $62.76, for a total transaction of $3,213,625.80.

Shares of TNET traded down $2.48 during trading hours on Wednesday, hitting $57.67. The company had a trading volume of 185,364 shares, compared to its average volume of 413,285. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $66.03 and a 200-day moving average of $54.98. TriNet Group Inc has a 12 month low of $27.79 and a 12 month high of $73.82. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 12.43 and a beta of 1.66.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 27th. The business services provider reported $2.03 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.99 by $1.04. TriNet Group had a net margin of 8.03% and a return on equity of 60.66%. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $268.46 million. During the same period in the prior year, the company posted $0.70 earnings per share. TriNet Group's revenue was up 45.0% compared to the same quarter last year. On average, equities analysts expect that TriNet Group Inc will post 3.24 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. ArrowMark Colorado Holdings LLC raised its holdings in TriNet Group by 28.5% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 5,156,325 shares of the business services provider's stock valued at $194,187,000 after buying an additional 1,144,336 shares during the last quarter. Teacher Retirement System of Texas bought a new position in TriNet Group during the 2nd quarter worth approximately $63,162,000. FMR LLC raised its holdings in TriNet Group by 582.0% during the 2nd quarter. FMR LLC now owns 1,046,180 shares of the business services provider's stock worth $63,754,000 after purchasing an additional 892,772 shares during the last quarter. Harbor Spring Capital LLC raised its holdings in TriNet Group by 83.2% during the 1st quarter. Harbor Spring Capital LLC now owns 1,024,842 shares of the business services provider's stock worth $38,596,000 after purchasing an additional 465,369 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in TriNet Group by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 7,328,273 shares of the business services provider's stock worth $275,983,000 after purchasing an additional 217,867 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

Several equities analysts have recently weighed in on TNET shares. JPMorgan Chase & Co. increased their price objective on shares of TriNet Group from $65.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. Credit Suisse Group increased their price objective on shares of TriNet Group from $44.00 to $54.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Zacks Investment Research raised shares of TriNet Group from a "hold" rating to a "strong-buy" rating and set a $78.00 price objective on the stock in a research report on Saturday, August 1st. Finally, Stifel Nicolaus increased their price objective on shares of TriNet Group from $66.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of "Buy" and a consensus target price of $73.25.

TriNet Group Company Profile

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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