Eagle Asset Management Inc. Reduces Stake in HealthEquity, Inc. (NASDAQ:HQY)

Eagle Asset Management Inc. lessened its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 22.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,939 shares of the company’s stock after selling 39,999 shares during the quarter. Eagle Asset Management Inc. owned about 0.16% of HealthEquity worth $11,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in HealthEquity during the second quarter valued at approximately $35,000. Paladin Wealth LLC purchased a new position in shares of HealthEquity during the 3rd quarter valued at $39,000. GAMMA Investing LLC increased its holdings in shares of HealthEquity by 114.8% in the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock worth $51,000 after purchasing an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of HealthEquity in the second quarter worth $73,000. Finally, 1620 Investment Advisors Inc. bought a new stake in HealthEquity during the third quarter valued at $112,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the sale, the director now directly owns 54,719 shares in the company, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the transaction, the director now owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. This represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,536 shares of company stock worth $884,517. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barrington Research restated an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. The Goldman Sachs Group assumed coverage on shares of HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and set a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Bank of America upped their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

HealthEquity Trading Down 0.4 %

Shares of HQY stock opened at $104.25 on Friday. The business has a 50-day moving average of $87.74 and a 200 day moving average of $81.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. HealthEquity, Inc. has a 1-year low of $62.10 and a 1-year high of $105.73. The stock has a market capitalization of $9.10 billion, a PE ratio of 86.88, a P/E/G ratio of 1.64 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The firm had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. As a group, sell-side analysts anticipate that HealthEquity, Inc. will post 2.27 earnings per share for the current year.

HealthEquity Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.