Benefitfocus CFO Sells $315,000 in Stock (BNFT)
Benefitfocus (NASDAQ:BNFT) CFO Milton Alpern sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 19th. The stock was sold at an average price of $45.00, for a total value of $315,000.00. Following the sale, the chief financial officer now directly owns 13,152 shares of the company’s stock, valued at approximately $591,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
BNFT has been the subject of a number of recent research reports. 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Benefitfocus currently has an average rating of “Buy” and an average target price of $51.17.
Benefitfocus (NASDAQ:BNFT) traded up 1.64% during mid-day trading on Monday, hitting $47.09. The stock had a trading volume of 106,955 shares. Benefitfocus has a 52 week low of $27.52 and a 52 week high of $77.00. The stock has a 50-day moving average of $35.7 and a 200-day moving average of $50.59. The company’s market cap is $1.182 billion.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results 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. Benefitfocus’s revenue was up 29.0% compared to the same quarter last year. 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.
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