34,553 Shares in HealthEquity, Inc. $HQY Acquired by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC acquired 34,553 shares of HealthEquity, Inc. valued at approximately $3,620,000 in the second quarter, highlighting increased institutional interest in the company.
• Several brokerages have updated their ratings for HealthEquity, with JPMorgan Chase & Co. raising its target price from $125.00 to $126.00 and maintaining an "overweight" rating.
• HealthEquity stock has shown robust performance, opening at $92.09 with a market capitalization of $7.93 billion, despite fluctuating in the past year between a low of $74.07 and a high of $116.65.

Tectonic Advisors LLC acquired a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,553 shares of the company's stock, valued at approximately $3,620,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in HealthEquity by 232.4% in the second quarter. Farther Finance Advisors LLC now owns 246 shares of the company's stock valued at $26,000 after acquiring an additional 172 shares during the period. WPG Advisers LLC acquired a new stake in HealthEquity in the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. grew its stake in HealthEquity by 176.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock valued at $58,000 after acquiring an additional 418 shares during the period. Sellwood Investment Partners LLC acquired a new stake in HealthEquity in the second quarter valued at approximately $58,000. Finally, Larson Financial Group LLC grew its stake in HealthEquity by 1,366.0% in the first quarter. Larson Financial Group LLC now owns 689 shares of the company's stock valued at $61,000 after acquiring an additional 642 shares during the period. Institutional investors and hedge funds own 99.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HQY. Barrington Research reissued an "outperform" rating and issued a $125.00 price objective on shares of HealthEquity in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their target price on HealthEquity from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. KeyCorp cut their target price on HealthEquity from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their target price on HealthEquity from $109.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.31.

HealthEquity Stock Performance

Shares of HealthEquity stock opened at $92.09 on Thursday. The business's fifty day simple moving average is $91.71 and its 200 day simple moving average is $93.82. The firm has a market capitalization of $7.93 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. HealthEquity, Inc. has a 12 month low of $74.07 and a 12 month high of $116.65. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.47.

Insiders Place Their Bets

In related news, EVP Delano Ladd sold 6,000 shares of HealthEquity stock in a transaction on Friday, September 19th. The stock was sold at an average price of $94.11, for a total transaction of $564,660.00. Following the sale, the executive vice president directly owned 79,456 shares in the company, valued at approximately $7,477,604.16. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Henry Fiore sold 1,781 shares of HealthEquity stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $88.21, for a total value of $157,102.01. Following the sale, the executive vice president owned 49,795 shares in the company, valued at $4,392,416.95. This trade represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

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.

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