Allspring Global Investments Holdings LLC Sells 34,677 Shares of HealthEquity, Inc. $HQY

Key Points

• Allspring Global Investments trimmed its stake in HealthEquity by 4.5%, selling 34,677 shares and leaving it with 729,510 shares (about 0.85% of the company) valued at roughly $66.44 million.
• Wall Street sentiment is broadly positive with a consensus rating of “Moderate Buy” and an average target of $110.36 (Deutsche Bank raised its target to $128), while analyst counts show 1 Strong Buy, 11 Buy, 2 Hold and 1 Sell.
• HealthEquity recently beat estimates (EPS $0.95 vs $0.90; revenue $334.6M vs $332.5M), and the stock trades around $83.57 with a market cap of $7.06B and a 1‑year range of $72.76–$116.65.

Allspring Global Investments Holdings LLC lowered its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,510 shares of the company's stock after selling 34,677 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.85% of HealthEquity worth $66,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its stake in HealthEquity by 3,522.2% in the 3rd quarter. True Wealth Design LLC now owns 326 shares of the company's stock worth $31,000 after purchasing an additional 317 shares during the period. Farther Finance Advisors LLC raised its position in shares of HealthEquity by 59.3% during the third quarter. Farther Finance Advisors LLC now owns 392 shares of the company's stock valued at $37,000 after buying an additional 146 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of HealthEquity by 52.2% in the third quarter. AlphaQuest LLC now owns 624 shares of the company's stock worth $59,000 after buying an additional 214 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of HealthEquity by 24.4% in the third quarter. Larson Financial Group LLC now owns 628 shares of the company's stock worth $60,000 after buying an additional 123 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of HealthEquity by 1,602.3% during the third quarter. IFP Advisors Inc now owns 749 shares of the company's stock worth $75,000 after acquiring an additional 705 shares during the last quarter. Institutional investors own 99.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HQY. Deutsche Bank Aktiengesellschaft raised their target price on shares of HealthEquity from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. UBS Group set a $110.00 price objective on shares of HealthEquity in a report on Tuesday, February 17th. Citigroup restated an "outperform" rating on shares of HealthEquity in a research report on Thursday, December 4th. Royal Bank Of Canada reduced their target price on HealthEquity from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, March 18th. Finally, Raymond James Financial set a $100.00 target price on HealthEquity in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $110.36.

HealthEquity Price Performance

NASDAQ:HQY opened at $83.57 on Wednesday. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 1.48 and a beta of 0.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.27 and a quick ratio of 3.27. The business has a 50 day simple moving average of $79.95 and a 200-day simple moving average of $89.52. HealthEquity, Inc. has a 1 year low of $72.76 and a 1 year high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $334.59 million for the quarter, compared to the consensus estimate of $332.48 million. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.The business's quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current year.

About HealthEquity

HealthEquity, Inc NASDAQ: HQY is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.

Want to see what other hedge funds are holding HQY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HealthEquity, Inc. (NASDAQ:HQY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.