Benefitfocus Inc. (BNFT) CEO Shawn A. Jenkins Sells 10,000 Shares
Benefitfocus Inc. (NASDAQ:BNFT) CEO Shawn A. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $42.03, for a total transaction of $420,300.00. Following the sale, the chief executive officer now directly owns 2,290,896 shares of the company’s stock, valued at approximately $96,286,358.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Benefitfocus Inc. (NASDAQ:BNFT) traded down 2.02% during mid-day trading on Wednesday, hitting $41.15. 159,611 shares of the stock traded hands. The firm’s 50-day moving average is $40.33 and its 200-day moving average is $38.68. Benefitfocus Inc. has a 12-month low of $21.04 and a 12-month high of $44.98. The company’s market cap is $1.22 billion.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.15. The company earned $57.90 million during the quarter, compared to analyst estimates of $56.42 million. During the same quarter last year, the business earned ($0.53) EPS. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities research analysts expect that Benefitfocus Inc. will post ($0.95) EPS for the current year.
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Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Benefitfocus during the second quarter valued at approximately $111,000. Societe Generale bought a new stake in shares of Benefitfocus during the second quarter valued at approximately $111,000. Fortaleza Asset Management Inc. bought a new stake in shares of Benefitfocus during the second quarter valued at approximately $122,000. BlackRock Advisors LLC boosted 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 during the period. Finally, Quantitative Investment Management LLC boosted 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 during the period. Hedge funds and other institutional investors own 78.96% of the company’s stock.
A number of analysts have recently commented on BNFT shares. Zacks Investment Research raised shares of Benefitfocus from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Royal Bank Of Canada boosted their target price on shares of Benefitfocus from $36.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, August 1st. RBC Capital Markets reissued a “sector perform” rating and set a $46.00 target price (up previously from $36.00) on shares of Benefitfocus in a research note on Monday, August 1st. Deutsche Bank AG boosted their target price on shares of Benefitfocus from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Jefferies Group boosted their target price on shares of Benefitfocus from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Five 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. Benefitfocus has an average rating of “Buy” and a consensus target price of $48.22.
Benefitfocus Company Profile
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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