Insider Selling: Castlight Health, inc. (CSLT) Insider Sells 23,000 Shares of Stock
Castlight Health, inc. (NYSE:CSLT) insider Giovanni M. Colella sold 23,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $4.06, for a total transaction of $93,380.00. Following the transaction, the insider now owns 78,906 shares of the company’s stock, valued at approximately $320,358.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Castlight Health, inc. (CSLT) traded down 3.75% on Thursday, reaching $3.85. 170,254 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $4.28 and a 200-day moving average of $3.78. Castlight Health, inc. has a one year low of $3.05 and a one year high of $5.50. The stock’s market cap is $506.99 million.
Castlight Health, inc. (NYSE:CSLT) last posted its earnings results on Wednesday, August 2nd. The software maker reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $32.10 million for the quarter, compared to analysts’ expectations of $31.14 million. Castlight Health, inc. had a negative net margin of 42.54% and a negative return on equity of 36.30%. Castlight Health, inc.’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Equities research analysts forecast that Castlight Health, inc. will post ($0.25) EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Castlight Health, inc. from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. BidaskClub lowered shares of Castlight Health, inc. from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Morgan Stanley lowered shares of Castlight Health, inc. from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $4.00 to $3.75 in a report on Friday, May 12th. ValuEngine lowered shares of Castlight Health, inc. from a “hold” rating to a “sell” rating in a report on Friday, May 19th. Finally, Chardan Capital assumed coverage on shares of Castlight Health, inc. in a report on Tuesday, June 6th. They issued a “buy” rating and a $4.50 target price for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $4.50.
Hedge funds have recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of Castlight Health, inc. by 4.3% in the first quarter. Stifel Financial Corp now owns 36,500 shares of the software maker’s stock valued at $133,000 after buying an additional 1,500 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Castlight Health, inc. during the first quarter valued at $102,000. Teachers Advisors LLC boosted its stake in shares of Castlight Health, inc. by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 62,781 shares of the software maker’s stock valued at $311,000 after buying an additional 4,717 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Castlight Health, inc. during the first quarter valued at $164,000. Finally, State Street Corp boosted its stake in shares of Castlight Health, inc. by 11.3% in the fourth quarter. State Street Corp now owns 663,065 shares of the software maker’s stock valued at $3,277,000 after buying an additional 67,459 shares during the period. 39.10% of the stock is currently owned by institutional investors and hedge funds.
About Castlight Health, inc.
Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its technology offering aggregates data and applies analytics to make healthcare data transparent.
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