HealthEquity, Inc. $HQY Shares Purchased by ABLE Financial Group LLC

Key Points

• ABLE Financial Group LLC increased its stake in HealthEquity, Inc. by 14.0%, owning a total of 25,845 shares worth approximately $2.7 million as of the end of the last quarter.
• Institutional investors hold a significant majority of HealthEquity's stock, currently accounting for 99.55% of total ownership.
• Analysts have raised their target prices on HealthEquity, with Bank of America setting a new target of $125.00 and multiple firms giving it a "buy" rating.

ABLE Financial Group LLC lifted its position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,845 shares of the company's stock after acquiring an additional 3,174 shares during the quarter. ABLE Financial Group LLC's holdings in HealthEquity were worth $2,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in HealthEquity by 24.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $564,000 after purchasing an additional 1,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in HealthEquity by 7,983.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after acquiring an additional 24,350 shares during the last quarter. GAMMA Investing LLC grew its position in HealthEquity by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock worth $139,000 after acquiring an additional 323 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in HealthEquity by 995.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock valued at $56,500,000 after buying an additional 580,988 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of HealthEquity in the 1st quarter valued at $20,230,000. Institutional investors and hedge funds own 99.55% of the company's stock.

HealthEquity Stock Performance

NASDAQ:HQY traded up $2.23 during trading hours on Monday, reaching $95.97. The company had a trading volume of 859,094 shares, compared to its average volume of 1,243,952. The firm's 50 day moving average price is $92.82 and its 200-day moving average price is $93.91. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 58.16, a PEG ratio of 1.34 and a beta of 0.50. HealthEquity, Inc. has a 52 week low of $74.07 and a 52 week 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.

Insider Transactions at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president owned 53,225 shares in the company, valued at $5,414,579.25. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Delano Ladd sold 6,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $94.11, for a total value of $564,660.00. Following the completion of the sale, the executive vice president directly owned 79,456 shares of the company's stock, valued at approximately $7,477,604.16. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JMP Securities increased their target price on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Bank of America raised their price objective on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Royal Bank Of Canada lifted their price target on HealthEquity from $109.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, HealthEquity currently has an average rating of "Buy" and an average target price of $119.77.

About HealthEquity

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.