TriNet Group, Inc. (NYSE:TNET) Shares Sold by ExodusPoint Capital Management LP

Posted by on Jun 9th, 2023

ExodusPoint Capital Management LP lessened its stake in TriNet Group, Inc. (NYSE:TNET – Get Rating) by 70.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,257 shares of the business services provider’s stock after selling 68,741 shares during the period. ExodusPoint Capital Management LP’s holdings in TriNet Group were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. raised its holdings in shares of TriNet Group by 176.1% in the fourth quarter. Ronald Blue Trust Inc. now owns 508 shares of the business services provider’s stock valued at $36,000 after buying an additional 324 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of TriNet Group by 78.7% in the second quarter. Captrust Financial Advisors now owns 620 shares of the business services provider’s stock valued at $48,000 after buying an additional 273 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of TriNet Group by 31.7% in the third quarter. Royal Bank of Canada now owns 1,017 shares of the business services provider’s stock valued at $72,000 after buying an additional 245 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of TriNet Group in the fourth quarter valued at about $124,000. Finally, Point72 Hong Kong Ltd raised its holdings in shares of TriNet Group by 1,609.7% in the first quarter. Point72 Hong Kong Ltd now owns 1,761 shares of the business services provider’s stock valued at $173,000 after buying an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 91.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TNET. Cowen upped their target price on shares of TriNet Group from $67.00 to $74.00 and gave the company a “market perform” rating in a report on Thursday, February 16th. StockNews.com cut shares of TriNet Group from a “buy” rating to a “hold” rating in a report on Friday. Finally, Needham & Company LLC assumed coverage on shares of TriNet Group in a report on Friday, May 12th. They set a “buy” rating and a $115.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, TriNet Group has an average rating of “Hold” and an average target price of $88.00.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, CEO Burton M. Goldfield sold 6,250 shares of the stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $75.73, for a total value of $473,312.50. Following the completion of the transaction, the chief executive officer now directly owns 187,399 shares of the company’s stock, valued at $14,191,726.27. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Burton M. Goldfield sold 6,250 shares of the stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $75.73, for a total value of $473,312.50. Following the sale, the chief executive officer now directly owns 187,399 shares in the company, valued at $14,191,726.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander G. Warren sold 2,442 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $90.64, for a total transaction of $221,342.88. Following the completion of the sale, the senior vice president now owns 39,058 shares in the company, valued at $3,540,217.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,942 shares of company stock valued at $1,265,468. Corporate insiders own 37.40% of the company’s stock.

TriNet Group Trading Down 0.3 %

Shares of TriNet Group stock opened at $97.36 on Friday. TriNet Group, Inc. has a 12-month low of $60.60 and a 12-month high of $98.65. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.60. The stock has a market cap of $5.79 billion, a PE ratio of 17.64 and a beta of 1.16. The company has a 50-day moving average of $88.09 and a two-hundred day moving average of $79.55.

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

TriNet Group Profile

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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.

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Institutional Ownership by Quarter for TriNet Group (NYSE:TNET)

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