The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. TriNet Group Inc shares valued at $2,018,956 were sold by Goldfield Burton M. on Feb 22 ’24. At $124.63 per share, Goldfield Burton M. sold 16,200 shares. The insider’s holdings dropped to 364,479 shares worth approximately $37.09 million following the completion of this transaction.
Also, WELLINGTON SAMANTHA sold 14,271 shares, netting a total of over 1,782,231 in proceeds. Following the sale of shares at $124.88 each, the insider now holds 48,562 shares.
Before that, LOWELL WAYNE B had sold 10,000 shares from its account. In a trade valued at $1,222,230, the Director traded TriNet Group Inc shares for $122.22 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $8.62 million.
As published in their initiating research note from UBS on November 07, 2023, TriNet Group Inc [TNET] has been a Neutral and the price target has been revised to $110. Analysts at TD Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in early August. As of May 12, 2023, Needham has initiated its “Buy” rating for TNET. Earlier on September 08, 2022, Cowen initiated its rating. Their recommendation was “a Market perform” for TNET stock.
Analyzing TNET Stock Performance
During the last five days, there has been a drop of approximately -20.26%. Over the course of the year, TriNet Group Inc shares have dropped approximately -14.45%. Shares of the company reached a 52-week high of $134.67 on 04/04/24 and a 52-week low of $99.88 on 04/30/24. A 50-day SMA is recorded $126.45, while a 200-day SMA reached $115.91. Nevertheless, trading volume fell to 0.43 million shares from 0.66 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 100.36, which, if violated, would cause prices to drop to 98.96. In the upper region, resistance lies at 103.57. The next price resistance is at 105.38. RSI (Relative Strength Index) is 19.98 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.14, which suggests the price will decrease in the coming days. Percent R is at 94.05%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
