Trinet Group INC (TNET) Shares Rose While Arrowpoint Asset Management LLC Has Decreased Its Holding by $3.13 Million

June 14, 2018 - By Jimmy Baldridge

TriNet Group, Inc. (NYSE:TNET) Logo

Arrowpoint Asset Management Llc decreased its stake in Trinet Group Inc (TNET) by 1.27% based on its latest 2018Q1 regulatory filing with the SEC. Arrowpoint Asset Management Llc sold 68,046 shares as the company’s stock rose 26.36% while stock markets declined. The institutional investor held 5.27 million shares of the miscellaneous company at the end of 2018Q1, valued at $244.06 million, down from 5.34M at the end of the previous reported quarter. Arrowpoint Asset Management Llc who had been investing in Trinet Group Inc for a number of months, seems to be less bullish one the $3.93B market cap company. The stock increased 1.84% or $1.01 during the last trading session, reaching $55.88. About 183,860 shares traded. TriNet Group, Inc. (NYSE:TNET) has risen 70.21% since June 14, 2017 and is uptrending. It has outperformed by 57.64% the S&P500.

Arrowpoint Asset Management Llc, which manages about $5.56B and $10.01 billion US Long portfolio, upped its stake in Prestige Brands Hldgs Inc (NYSE:PBH) by 1.47M shares to 3.03M shares, valued at $102.18 million in 2018Q1, according to the filing. It also increased its holding in John Bean Technologies Corp (NYSE:JBT) by 87,122 shares in the quarter, for a total of 648,829 shares, and has risen its stake in Grand Canyon Ed Inc (NASDAQ:LOPE).

Analysts await TriNet Group, Inc. (NYSE:TNET) to report earnings on July, 30. They expect $0.60 EPS, up 33.33 % or $0.15 from last year’s $0.45 per share. TNET’s profit will be $42.18M for 23.28 P/E if the $0.60 EPS becomes a reality. After $0.71 actual EPS reported by TriNet Group, Inc. for the previous quarter, Wall Street now forecasts -15.49 % negative EPS growth.

More recent TriNet Group, Inc. (NYSE:TNET) news were published by: Prnewswire.com which released: “TriNet to Participate at the Stifel 2018 Cross Sector Insight Conference” on May 24, 2018. Also Globenewswire.com published the news titled: “Report: Exploring Fundamental Drivers Behind ServisFirst Bancshares, Iovance Biotherapeutics, Inc., MarineMax …” on May 29, 2018. Nasdaq.com‘s news article titled: “New TriNet Product Offering Solves HR Challenges Unique to Consulting, Advertising and Other Professional Service …” with publication date: June 04, 2018 was also an interesting one.

TriNet Group, Inc. (NYSE:TNET) Ratings Coverage

Among 2 analysts covering Trinet Group (NYSE:TNET), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Trinet Group had 5 analyst reports since February 28, 2018 according to SRatingsIntel. Stifel Nicolaus maintained it with “Buy” rating and $59 target in Thursday, April 12 report. Stifel Nicolaus maintained TriNet Group, Inc. (NYSE:TNET) on Tuesday, May 1 with “Buy” rating. The stock has “Equal-Weight” rating by Morgan Stanley on Tuesday, May 1. The company was upgraded on Wednesday, April 4 by Morgan Stanley. The stock of TriNet Group, Inc. (NYSE:TNET) has “Buy” rating given on Wednesday, February 28 by Stifel Nicolaus.

TriNet Group, Inc. (NYSE:TNET) Ratings Chart

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