Share on StockTwits

Benefitfocus (NASDAQ:BNFT) shares fell 4.8% during trading on Wednesday following insider selling activity, AnalystRatings.NET reports. The company traded as low as $37.20 and last traded at $37.66, with a volume of 92,133 shares changing hands. The stock had previously closed at $39.56.

Specifically, COO Andrew L. Howell sold 9,888 shares of Benefitfocus stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $40.24, for a total transaction of $397,893.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several analysts have recently commented on the stock. Analysts at Goldman Sachs cut their price target on shares of Benefitfocus from $64.00 to $50.00 in a research note on Thursday, May 22nd. They now have a “buy” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of Benefitfocus from $74.00 to $50.00 in a research note on Tuesday, May 6th. Finally, analysts at Deutsche Bank cut their price target on shares of Benefitfocus from $75.00 to $60.00 in a research note on Tuesday, May 6th. They now have a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $51.17.

The stock has a 50-day moving average of $34.05 and a 200-day moving average of $50.89. The company’s market cap is $941.1 million.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.55) by $0.09. The company had revenue of $30.70 million for the quarter, compared to the consensus estimate of $30.02 million. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, analysts predict that Benefitfocus will post $-2.47 earnings per share for the current fiscal year.

Benefitfocus, Inc is a provider of cloud-based benefits software solutions for consumers, employers, insurance carriers, and brokers.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.