Benefitfocus Inc. (NASDAQ:BNFT) COO Raymond Alexander August sold 16,408 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $39.66, for a total value of $650,741.28. Following the transaction, the chief operating officer now directly owns 198,102 shares in the company, valued at approximately $7,856,725.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Benefitfocus Inc. (NASDAQ:BNFT) opened at 41.80 on Monday. Benefitfocus Inc. has a 1-year low of $21.04 and a 1-year high of $44.98. The company’s 50-day moving average price is $40.22 and its 200 day moving average price is $38.44. The firm’s market cap is $1.24 billion.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.15. The business earned $57.90 million during the quarter, compared to analyst estimates of $56.42 million. During the same quarter last year, the firm posted ($0.53) EPS. The company’s revenue was up 35.6% compared to the same quarter last year. On average, equities analysts expect that Benefitfocus Inc. will post ($0.95) earnings per share for the current fiscal year.
A number of equities analysts have weighed in on BNFT shares. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Jefferies Group boosted their price objective on Benefitfocus from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Deutsche Bank AG boosted their price objective on Benefitfocus from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Canaccord Genuity reissued a “buy” rating and set a $48.00 price objective on shares of Benefitfocus in a research note on Friday, August 5th. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price objective (up previously from $36.00) on shares of Benefitfocus in a research note on Monday, August 1st. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.22.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Societe Generale acquired a new position in Benefitfocus during the second quarter valued at approximately $111,000. SG Americas Securities LLC purchased a new stake in shares of Benefitfocus during the second quarter valued at $111,000. Fortaleza Asset Management Inc. purchased a new stake in shares of Benefitfocus during the second quarter valued at $122,000. BlackRock Advisors LLC raised its stake in shares of Benefitfocus by 48.2% in the second quarter. BlackRock Advisors LLC now owns 6,233 shares of the company’s stock valued at $238,000 after buying an additional 2,026 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its stake in shares of Benefitfocus by 3.1% in the second quarter. Quantitative Investment Management LLC now owns 6,600 shares of the company’s stock valued at $251,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.
Benefitfocus, Inc (Benefitfocus) provides cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.
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