Jeffery Jon Hayward, the Chief Technology Officer of TriNet Group, Inc. (NYSE:TNET), recently sold 2,345 shares of the company’s common stock. The transaction, executed on November 29, was carried out at a price of $93.03 per share, resulting in a total sale value of $218,155. Following this sale, Hayward retains ownership of 34,606 shares in the company. The sale was conducted under a 10b5-1 trading plan established earlier this year. Notably, InvestingPro analysis reveals that while this insider sold shares, management has been aggressively buying back shares - one of several key insights available in the comprehensive Pro Research Report covering TNET and 1,400+ other US stocks.
In other recent news, TriNet Group's earnings and revenue results have been a focal point of recent developments, with the company reporting an adjusted net income per diluted share of $1.17 and a marginal total revenue growth of 1% in the third quarter. However, these figures fell short of both the company's own guidance and analysts' expectations, leading to a downgrade of TriNet's stock rating from Buy to Hold by Needham. Despite these challenges, the company continues to prioritize shareholder value, having returned $191 million to investors through stock repurchases and dividends.
TD Cowen, another analyst firm, has maintained a Buy rating on TriNet shares, though it adjusted its price target based on the company's recent performance. The firm's optimism is grounded in the expectation of TriNet's performance in 2025, anticipating an uptick in investor sentiment and valuation years. TD Cowen's outlook also takes into account TriNet's enhanced risk management strategies for its insurance book, which are expected to contribute to the expansion of the company's multiples.
TriNet's strategy for addressing these challenges includes implementing price increases on insurance services and managing discretionary expenses. Despite the challenges, the company maintains a strong customer retention forecast for 2024. These are recent developments, as TriNet navigates these challenges, Needham's analysis suggests a potential rebound and growth for the company over the course of 2025.
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