The Castlight Health, inc. (CSLT) Receives Average Recommendation of “Hold” from Analysts

The Castlight Health, inc. (CSLT) Receives Average Recommendation of “Hold” from Analysts

A number of research analysts have commented on CSLT shares. ValuEngine upgraded Castlight Health, inc. from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut Castlight Health, inc. from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut Castlight Health, inc. from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Chardan Capital started coverage on Castlight Health, inc. in a research note on Tuesday, June 6th. They issued a “buy” rating and a $4.50 price target on the stock. Finally, Morgan Stanley cut Castlight Health, inc. from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $4.00 to $3.75 in a research note on Friday, May 12th.

Castlight Health, inc. (NYSE:CSLT) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.46.

In related news, CAO Priya Jain sold 7,858 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $3.65, for a total value of $28,681.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,000 shares of the company’s stock, valued at approximately $73,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Giovanni M. Colella sold 11,456 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $3.75, for a total value of $42,960.00. Following the transaction, the insider now directly owns 88,094 shares of the company’s stock, valued at $330,352.50. The disclosure for this sale can be found here. Insiders have sold 37,051 shares of company stock valued at $140,343 over the last ninety days. Corporate insiders own 24.38% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Castlight Health, inc. by 54.2% in the second quarter. Rhumbline Advisers now owns 65,904 shares of the software maker’s stock worth $274,000 after buying an additional 23,170 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Castlight Health, inc. during the second quarter worth about $1,613,000. Schwab Charles Investment Management Inc. raised its position in shares of Castlight Health, inc. by 25.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 249,281 shares of the software maker’s stock worth $1,035,000 after buying an additional 50,687 shares during the last quarter. Edge Wealth Management LLC raised its position in shares of Castlight Health, inc. by 6.5% in the second quarter. Edge Wealth Management LLC now owns 50,050 shares of the software maker’s stock worth $198,000 after buying an additional 3,050 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new position in shares of Castlight Health, inc. during the first quarter worth about $164,000. 39.12% of the stock is owned by hedge funds and other institutional investors.

Castlight Health, inc. (NYSE:CSLT) traded down 0.575% during trading on Monday, reaching $4.325. 139,846 shares of the company’s stock traded hands. The firm’s market cap is $564.47 million. The company has a 50 day moving average of $4.22 and a 200 day moving average of $3.76. Castlight Health, inc. has a one year low of $3.05 and a one year high of $5.50.

Castlight Health, inc. Company Profile

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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