Benefitfocus Inc. (NASDAQ:BNFT) dropped 2.7% on Friday . The stock traded as low as $39.58 and last traded at $39.84, with a volume of 138,446 shares. The stock had previously closed at $40.96.

BNFT has been the subject of several recent research reports. Canaccord Genuity reiterated a “buy” rating and set a $44.00 target price on shares of Benefitfocus in a research note on Thursday, May 5th. Jefferies Group raised their price objective on shares of Benefitfocus from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Deutsche Bank AG raised their price objective on shares of Benefitfocus from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Monday, August 8th. Finally, William Blair downgraded shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 5th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Benefitfocus currently has a consensus rating of “Buy” and an average target price of $48.22.

The company’s market capitalization is $1.18 billion. The stock’s 50 day moving average price is $41.71 and its 200-day moving average price is $35.64.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.15. During the same period in the prior year, the company earned ($0.53) EPS. The business had revenue of $57.90 million for the quarter, compared to the consensus estimate of $56.42 million. Benefitfocus’s quarterly revenue was up 35.6% on a year-over-year basis. Analysts anticipate that Benefitfocus Inc. will post ($0.95) earnings per share for the current year.

In related news, insider Mason R. Holland, Jr. sold 145,915 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $42.18, for a total transaction of $6,154,694.70. Following the completion of the sale, the insider now owns 22,537 shares of the company’s stock, valued at approximately $950,610.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Francis J. Pelzer sold 1,530 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $39.54, for a total transaction of $60,496.20. Following the sale, the director now directly owns 15,636 shares of the company’s stock, valued at approximately $618,247.44. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in Benefitfocus stock. Dimensional Fund Advisors LP acquired a new position in shares of Benefitfocus Inc. (NASDAQ:BNFT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,269 shares of the company’s stock, valued at approximately $1,065,000. Dimensional Fund Advisors LP owned about 0.10% of Benefitfocus as of its most recent SEC filing.

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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