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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC purchased a new position in shares of HealthEquity during the fourth quarter valued at about $10,304,089,000. Vanguard Group Inc. boosted its position 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 in the last quarter. FMR LLC grew its stake in HealthEquity by 2.4% in the fourth 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 during the period. Geode Capital Management LLC lifted its position in HealthEquity by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,089,398 shares of the company's stock valued at $200,522,000 after buying an additional 10,421 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of HealthEquity by 12.0% during 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.

Insiders Place Their Bets

In other HealthEquity news, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the completion of the sale, the director directly owned 75,000 shares of the company's stock, valued at $8,403,750. The trade was a 56.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Selander sold 5,750 shares of the company'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 completion of the sale, the director directly owned 84,969 shares of the company's stock, valued at $6,597,842.85. The trade was a 6.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,581 shares of company stock worth $33,664,018. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada upped their price target on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Raymond James Financial raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft upped their price objective on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Finally, Barrington Research lifted their target price on HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. One equities research 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $118.09.

HealthEquity Price Performance

NASDAQ:HQY traded down $1.61 on Wednesday, reaching $101.28. 1,314,093 shares of the company's stock traded hands, compared to its average volume of 858,642. The stock has a 50-day simple moving average of $98.89 and a 200-day simple moving average of $98.12. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. 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 $8.76 billion, a PE ratio of 73.93, a P/E/G ratio of 1.61 and a beta of 0.49.

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

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.