Allspring Global Investments Holdings LLC Cuts Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Allspring Global Investments Holdings LLC lessened its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 7.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 884,830 shares of the company's stock after selling 66,405 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.02% of HealthEquity worth $77,024,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HQY. Wealthfront Advisers LLC bought a new stake in HealthEquity in the fourth quarter worth approximately $10,304,089,000. Vanguard Group Inc. raised its holdings in shares of HealthEquity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 8,976,091 shares of the company's stock valued at $861,256,000 after purchasing an additional 99,624 shares during the period. FMR LLC boosted its position in shares of HealthEquity by 2.4% during the 4th quarter. FMR LLC now owns 5,415,800 shares of the company's stock worth $519,646,000 after purchasing an additional 125,684 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of HealthEquity by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,089,398 shares of the company's stock worth $200,522,000 after purchasing an additional 10,421 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in HealthEquity by 12.0% in the 4th quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company's stock valued at $200,154,000 after buying an additional 224,016 shares in the last quarter. Institutional investors own 99.55% of the company's stock.

Wall Street Analyst Weigh In

HQY has been the topic of several recent research reports. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Barrington Research lifted their price target on shares of HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Royal Bank Of Canada upped their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price objective on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. One 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 company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $118.09.

HealthEquity Stock Performance

NASDAQ:HQY traded up $0.49 during trading on Monday, reaching $105.37. The company's stock had a trading volume of 85,925 shares, compared to its average volume of 852,174. HealthEquity, Inc. has a 12 month low of $65.01 and a 12 month high of $116.65. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 77.14, a price-to-earnings-growth ratio of 1.61 and a beta of 0.49. The firm has a 50 day moving average of $98.01 and a 200-day moving average of $98.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.16. The company had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same quarter in the prior year, the company earned $0.80 EPS. Research analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was 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 approximately $6,597,842.85. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $695,027.06. Following the sale, the executive vice president now directly owns 56,655 shares in the company, valued at $4,433,820.30. The trade was a 13.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,581 shares of company stock worth $33,664,018 over the last three months. Company insiders own 1.50% of the company's stock.

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.