Checking in on TriNet Group Inc. (TNET) after recent insiders movement


TriNet Group Inc.’s filing revealed that its PRESIDENT, CEO and DIRECTOR Goldfield Burton M. unloaded Company’s shares for reported $0.34 million on Aug 30. In the deal valued at $107.24 per share,3,164 shares were sold. As a result of this transaction, Goldfield Burton M. now holds 170,703 shares worth roughly $ 18.94 million.

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Then, Goldfield Burton M. sold 4,008 shares, generating $425,039 in total proceeds. Upon selling the shares at $106.05, the PRESIDENT, CEO and DIRECTOR now owns 170,703 shares.

Before that, Goldfield Burton M. sold 8,972 shares. TriNet Group Inc. shares valued at $953,218 were divested by the PRESIDENT, CEO and DIRECTOR at a price of $106.24 per share. As a result of the transaction, Goldfield Burton M. now holds 170,703 shares, worth roughly $18.94 million.

TD Cowen upgraded its TriNet Group Inc. [TNET] rating to an Outperform from a a Market perform in a research note published on Friday, August 07, 2023; the price target was increased to $125 from $95. PT values the company’s stock at a premium of 11.22 to its Friday closing price.

Price Performance Review of TNET

On Friday, TriNet Group Inc. [NYSE:TNET] saw its stock jump 0.04% to $110.97. On the same session, the stock had its day’s lowest price of $110.83, but rose to a high of $111.76. Over the last five days, the stock has gained 4.63%. TriNet Group Inc. shares have risen nearly 63.67% since the year began. Nevertheless, the stocks have risen 34.67% over the past one year. While a 52-week high of $112.13 was reached on 08/31/23, a 52-week low of $60.60 was recorded on 01/03/23. SMA at 50 days reached $100.70, while 200 days put it at $85.74. A total of 0.52 million shares were traded, compared to the trading of 0.89 million shares in the previous session.

Levels Of Support And Resistance For TNET Stock

The 24-hour chart illustrates a support level at 110.61, which if violated will result in even more drops to 110.26. On the upside, there is a resistance level at 111.54. A further resistance level may holdings at 112.12. The Relative Strength Index (RSI) on the 14-day chart is 74.80, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.17, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.74%. Stochastics %K at 81.35% indicates the stock is a selling.

How much short interest is there in TriNet Group Inc.?

A steep rise in short interest was recorded in TriNet Group Inc. stocks on Aug 14, 2023, dropping by -0.12 million shares to a total of 1.1 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.22 million shares. There was a decline of -10.91%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.24.

TriNet Group Inc. [TNET] – Who Are The Largest Shareholders?

In filings from Atairos Management LP, it is revealed that the company now owns 21,450,259 shares, or roughly 35.94% of the outstanding TNET shares. Additionally, Mawer Investment Management Ltd. decreased -1.15% of its stake after which the total value it holdings stand at $457,167,315, while Cantillon Capital Management LLC added 1.96% of its stake to hold $366.45 million in the firm. Over the last quarter, Wellington Management Co. LLP sold -367,886 shares of TriNet Group Inc., while The Vanguard Group, Inc. sold -396,478 shares. At present, BlackRock Fund Advisors is holding 2,228,892 shares valued at $234.55 million. Dimensional Fund Advisors LP owned 1,399,540 shares of the company at the time of its most recent 13F filing, worth $147.27 million.

According to FactSet, TriNet Group Inc.’s share price will average $109.00 in the next year, based on opinions of analysts polled by the firm. This is down nearly -3.54 percent from its previous closing price of $110.93. Analysts expect TriNet Group Inc. stock to reach the higher price of $125.00, while the lowest price estimate is $87.00. However, 6 analysts have rated TNET stock as an Overweight in their predictions for 2023.


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