Alliancebernstein L.P. Purchases 37,068 Shares of HealthEquity, Inc. $HQY

Key Points

• Alliancebernstein L.P. increased its stake in HealthEquity, Inc. by 20.6% to own approximately 0.25% of the company, valued at $19.2 million.
• Several analysts have upgraded HealthEquity’s stock price target, with Bank of America raising it from $110 to $125, suggesting strong market confidence in the company's growth.
• HealthEquity's stock is currently trading at $91.51, having experienced a 1.6% decline, with a market cap of $7.88 billion.

Alliancebernstein L.P. increased its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,414 shares of the company's stock after purchasing an additional 37,068 shares during the quarter. Alliancebernstein L.P. owned about 0.25% of HealthEquity worth $19,213,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in HealthEquity in the 1st quarter worth about $28,000. Versant Capital Management Inc bought a new position in shares of HealthEquity in the first quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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. Larson Financial Group LLC grew its stake in HealthEquity by 1,366.0% during 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in HealthEquity in the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 99.55% of the company's stock.

HealthEquity Trading Down 1.6%

Shares of HQY traded down $1.48 during mid-day trading on Tuesday, reaching $91.54. The company's stock had a trading volume of 798,203 shares, compared to its average volume of 1,212,661. HealthEquity, Inc. has a 52 week low of $74.07 and a 52 week high of $116.65. The stock has a market cap of $7.89 billion, a PE ratio of 55.48, a P/E/G ratio of 1.33 and a beta of 0.50. The company's fifty day moving average price is $93.05 and its two-hundred day moving average price is $94.20. 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 HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the sale, the executive vice president directly 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 filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Barrington Research restated an "outperform" rating and issued a $125.00 target price on shares of HealthEquity in a research note on Friday, August 29th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Bank of America boosted their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $120.00 target price (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $119.77.

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.