Benefitfocus Inc (NASDAQ:BNFT) Shares Sold by Peregrine Capital Management LLC

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Peregrine Capital Management LLC lowered its position in Benefitfocus Inc (NASDAQ:BNFT) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 391,740 shares of the software maker’s stock after selling 13,020 shares during the quarter. Peregrine Capital Management LLC’s holdings in Benefitfocus were worth $4,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in BNFT. Nisa Investment Advisors LLC increased its stake in shares of Benefitfocus by 3,733.3% in the first quarter. Nisa Investment Advisors LLC now owns 5,750 shares of the software maker’s stock valued at $51,000 after purchasing an additional 5,600 shares during the period. UBS Group AG increased its stake in shares of Benefitfocus by 194.3% in the fourth quarter. UBS Group AG now owns 2,434 shares of the software maker’s stock valued at $53,000 after purchasing an additional 1,607 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Benefitfocus by 148.5% during the first quarter. BNP Paribas Arbitrage SA now owns 9,816 shares of the software maker’s stock valued at $87,000 after acquiring an additional 5,866 shares during the period. Victory Capital Management Inc. increased its stake in shares of Benefitfocus by 47.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,333 shares of the software maker’s stock valued at $95,000 after acquiring an additional 1,404 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Benefitfocus by 30.9% during the first quarter. Envestnet Asset Management Inc. now owns 13,153 shares of the software maker’s stock valued at $117,000 after acquiring an additional 3,104 shares during the period. Institutional investors own 88.33% of the company’s stock.

Shares of NASDAQ:BNFT opened at $11.71 on Friday. The stock has a market capitalization of $375.97 million, a price-to-earnings ratio of -9.01 and a beta of 1.63. Benefitfocus Inc has a 1-year low of $6.09 and a 1-year high of $28.25. The company has a 50 day moving average price of $10.89 and a 200 day moving average price of $12.43.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Wednesday, May 6th. The software maker reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.05. The business had revenue of $66.15 million for the quarter, compared to the consensus estimate of $65.96 million. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share. As a group, research analysts predict that Benefitfocus Inc will post -1.03 earnings per share for the current fiscal year.

BNFT has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Saturday. ValuEngine upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Monday, July 27th. Goldman Sachs Group raised their price objective on shares of Benefitfocus from $11.00 to $12.00 in a research note on Monday, June 29th. Finally, Wells Fargo & Co lowered their price objective on shares of Benefitfocus from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.40.

About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

See Also: Technical Analysis

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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