Insider Buying: Castlight Health major shareholder Purchases 140,045 Shares of Stock (CSLT)
Castlight Health (NASDAQ:CSLT) major shareholder Maverick Capital Ltd acquired 140,045 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of $11.03 per share, for a total transaction of $1,544,696.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Castlight Health (NASDAQ:CSLT) traded up 1.19% during mid-day trading on Friday, hitting $11.91. 523,915 shares of the company’s stock traded hands. Castlight Health has a 52-week low of $10.05 and a 52-week high of $41.95. The stock has a 50-day moving average of $12.98 and a 200-day moving average of $16.46. The company’s market cap is $1.068 billion.
Castlight Health (NASDAQ:CSLT) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.24) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.25) by $0.01. Analysts expect that Castlight Health will post $-1.01 EPS for the current fiscal year.
Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Castlight Health in a research note on Wednesday, July 30th. They now have a $19.00 price target on the stock, up previously from $15.00. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Castlight Health presently has an average rating of “Buy” and an average price target of $19.00.
Castlight Health, Inc is a provider of cloud-based software, that enables enterprises to gain control over their rapidly escalating health care costs.
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