Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. TriNet Group Inc. shares valued at $339,294 were sold by Goldfield Burton M. on Aug 30. At $107.24 per share, Goldfield Burton M. sold 3,164 shares. The insider’s holdings dropped to 170,703 shares worth approximately $18.94 million following the completion of this transaction.
Also, Goldfield Burton M. sold 4,008 shares, netting a total of over 425,039 in proceeds. Following the sale of shares at $106.05 each, the insider now holds 170,703 shares.
Before that, Goldfield Burton M. had sold 8,972 shares from its account. In a trade valued at $953,218, the PRESIDENT, CEO and DIRECTOR traded TriNet Group Inc. shares for $106.24 each. Upon closing the transaction, the insider’s holdings decreased to 8,972 shares, worth approximately $18.94 million.
As published in a research note from TD Cowen on August 07, 2023, TriNet Group Inc. [TNET] has been rated up from a Market perform to an Outperform and the price target has been revised to $125 from $95. This represents a 11.26% premium over Thursday’s closing price.
Analyzing TNET Stock Performance
On Thursday, TriNet Group Inc. [NYSE: TNET] rose 3.34% to $110.93. The stock’s lowest price that day was $107.50, but it reached a high of $112.13 in the same session. During the last five days, there has been a surge of approximately 5.07%. Over the course of the year, TriNet Group Inc. shares have jumped approximately 63.61%. Shares of the company reached a 52-week high of $112.13 on 08/31/23 and a 52-week low of $68.08 on 01/03/23. A 50-day SMA is recorded $100.41, while a 200-day SMA reached $85.53. Nevertheless, trading volume fell to 0.89 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for TriNet Group Inc. (TNET)
According to the 24-hour chart, there is a support level at 108.24, which, if violated, would cause prices to drop to 105.56. In the upper region, resistance lies at 112.87. The next price resistance is at 114.82. RSI (Relative Strength Index) is 74.73 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.84, which suggests the price will increase in the coming days. Percent R is at 15.25%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is TriNet Group Inc. subject to short interest?
Stocks of TriNet Group Inc. saw a sharp steep in short interest on Aug 14, 2023 dropping by -0.12 million shares to 1.1 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 1.22 million shares. A decline of -10.91% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.24 of the overall float, the days-to-cover ratio (short ratio) decline to 3.24.
Which companies own the most shares of TriNet Group Inc. (TNET)?
In terms of TriNet Group Inc. share price expectations, FactSet research, analysts set an average price target of $109.00 in the next 12 months, down nearly -0.32% from the previous closing price of $107.34. Analysts anticipate TriNet Group Inc. stock to reach $125.00 by 2023, with the lowest price target being $87.00. In spite of this, 6 analysts ranked TriNet Group Inc. stock as an Overweight at the end of 2023.