Prudential Financial Inc. grew its position in Castlight Health Inc (NYSE:CSLT) by 27.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,204 shares of the software maker’s stock after buying an additional 8,840 shares during the period. Prudential Financial Inc.’s holdings in Castlight Health were worth $133,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CSLT. First Quadrant L P CA purchased a new position in Castlight Health during the 2nd quarter worth approximately $62,000. BNP Paribas Arbitrage SA boosted its stake in Castlight Health by 847.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 18,174 shares of the software maker’s stock worth $68,000 after purchasing an additional 16,255 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Castlight Health by 44.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,652 shares of the software maker’s stock worth $82,000 after purchasing an additional 8,491 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Castlight Health during the 1st quarter worth $97,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Castlight Health during the 1st quarter worth $153,000. Institutional investors and hedge funds own 56.00% of the company’s stock.
In other Castlight Health news, EVP Maeve O’meara sold 28,171 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.41, for a total value of $39,721.11. Following the transaction, the executive vice president now owns 322,775 shares of the company’s stock, valued at $455,112.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mangini Siobhan Nolan sold 21,617 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $1.41, for a total transaction of $30,479.97. Following the completion of the transaction, the chief financial officer now directly owns 281,610 shares in the company, valued at approximately $397,070.10. The disclosure for this sale can be found here. Insiders sold 60,858 shares of company stock worth $90,961 in the last ninety days. 17.37% of the stock is currently owned by corporate insiders.
Castlight Health (NYSE:CSLT) last posted its earnings results on Tuesday, July 30th. The software maker reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Castlight Health had a negative net margin of 19.68% and a negative return on equity of 9.28%. The company had revenue of $35.90 million during the quarter, compared to analyst estimates of $36.95 million. During the same period in the previous year, the company earned ($0.10) EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Castlight Health Inc will post -0.2 EPS for the current fiscal year.
CSLT has been the topic of several recent research reports. Zacks Investment Research cut shares of Castlight Health from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Cantor Fitzgerald cut shares of Castlight Health from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. TheStreet cut shares of Castlight Health from a “c-” rating to a “d+” rating in a research report on Monday, August 19th. Finally, ValuEngine raised shares of Castlight Health from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Castlight Health presently has a consensus rating of “Hold” and an average price target of $4.50.
About Castlight Health
Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers implementation, user and customer support, and marketplace services.
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