Athenahealth, Inc (ATHN) CEO Sells 8000 Shares of Stock

Cornelia Mascio
Mag 19, 2017

According to the SEC filing, Elliott Associates described athenahealth stock as an attractive investment opportunity because it is now undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in ATHN. Bank of New York Mellon Corp now owns 329,619 shares of the health services provider's stock worth $41,572,000 after buying an additional 17,290 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of athenahealth during the fourth quarter valued at $307,000. Tudor Investment Corp ET AL now owns 7,604 shares of the health services provider's stock valued at $857,000 after buying an additional 3,501 shares during the period. Seven Bridges Advisors LLC raised its stake in shares of athenahealth by 1.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,086 shares of the health services provider's stock valued at $219,000 after buying an additional 2,018 shares during the period.

The volume of the particular stock is the shares bought and sold in a single trading day. The stock has a 50 day moving average price of $110.87 and a 200-day moving average price of $110.59. athenahealth, Inc has a 52-week low of $90.11 and a 52-week high of $142.40.

Late in April, shares of the company sank after reporting disappointing first quarter results. The business had revenue of $285.40 million for the quarter, compared to analysts' expectations of $296.49 million. The firm's quarterly revenue was up 11.4% on a year-over-year basis.

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In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $140 price target. Stifel Nicolaus decreased their price objective on athenahealth from $125.00 to $116.00 and set a "hold" rating for the company in a report on Monday, February 6th. Finally, Berenberg Bank initiated coverage on shares of athenahealth in a research note on Tuesday, February 7th. Piper Jaffray Companies restated an "overweight" rating and issued a $160.00 price target on shares of athenahealth in a research note on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. The stock had previously closed at $121.45.

The news sent Watertown, MA-based Athenahealth's stock up more than 22 percent to $130.21 per share as of 2:52 p.m.in NY.

On 1/12/2017 Jonathan Bush, CEO, sold 4,000 with an average share price of $120.00 per share and the total transaction amounting to $480,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

On 5/15/2017 Jonathan D. Porter, SVP, sold 300 with an average share price of $109.48 per share and the total transaction amounting to $32,844.00. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up.

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