Balyasny Asset Management L.P. Takes Position in HealthEquity, Inc. (NASDAQ:HQY)

Balyasny Asset Management L.P. bought a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,779 shares of the company's stock, valued at approximately $1,418,000.

Several other hedge funds have also recently made changes to their positions in HQY. Wealthfront Advisers LLC bought a new position in shares of HealthEquity during the fourth quarter valued at approximately $10,304,089,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of HealthEquity in the 4th quarter valued at $78,107,000. Norges Bank purchased a new stake in HealthEquity in the fourth quarter valued at $74,701,000. Raymond James Financial Inc. purchased a new stake in HealthEquity in the fourth quarter valued at $45,728,000. Finally, Artisan Partners Limited Partnership purchased a new stake in HealthEquity in the fourth quarter valued at $24,568,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Trading Up 0.6%

Shares of HQY traded up $0.58 during mid-day trading on Friday, reaching $98.23. The company had a trading volume of 815,837 shares, compared to its average volume of 794,502. The stock has a market cap of $8.50 billion, a price-to-earnings ratio of 90.12, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. The firm has a fifty day simple moving average of $87.88 and a 200-day simple moving average of $96.97. HealthEquity, Inc. has a fifty-two week low of $65.01 and a fifty-two week high of $115.59. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HQY shares. The Goldman Sachs Group lowered their target price on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. KeyCorp dropped their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company boosted their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and set a $112.00 price objective on shares of HealthEquity in a research report on Friday, April 11th. Finally, Raymond James raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $120.00 to $115.00 in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $111.75.

Insider Activity

In other news, EVP Michael Henry Fiore sold 8,881 shares of HealthEquity stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of the transaction, the executive vice president now directly owns 56,655 shares of the company's stock, valued at approximately $4,433,820.30. The trade was a 13.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now directly owns 84,969 shares of the company's stock, valued at $6,597,842.85. The trade was a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

HealthEquity Company 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.