Ameriprise Financial Inc. Acquires 399,897 Shares of HealthEquity, Inc. $HQY

Key Points

• Ameriprise Financial Inc. increased its position in HealthEquity, Inc. by 148.1%, acquiring an additional 399,897 shares, bringing its total holdings to 669,939 shares worth approximately $59.2 million.
• Multiple institutional investors have also increased their stakes in HealthEquity, with 99.55% of the company's stock now owned by institutions.
• Analysts have issued positive ratings for HealthEquity, with a consensus rating of "Buy" and an average price target of $118.55, reflecting strong market confidence.

Ameriprise Financial Inc. boosted its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 148.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 669,939 shares of the company's stock after purchasing an additional 399,897 shares during the quarter. Ameriprise Financial Inc. owned about 0.77% of HealthEquity worth $59,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of HealthEquity by 24.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $564,000 after acquiring an additional 1,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of HealthEquity by 7,983.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock valued at $2,179,000 after acquiring an additional 24,350 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of HealthEquity by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after acquiring an additional 323 shares in the last quarter. WCM Investment Management LLC bought a new stake in HealthEquity during the first quarter worth $20,230,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in HealthEquity by 6.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 75,206 shares of the company's stock worth $6,646,000 after buying an additional 4,614 shares in the last quarter. Institutional investors own 99.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James Financial restated a "strong-buy" rating and issued a $120.00 price objective (up previously from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Bank of America increased 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. JMP Securities raised their price target on HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group raised their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft increased 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, HealthEquity has a consensus rating of "Buy" and an average price target of $118.55.

Insiders Place Their Bets

In other HealthEquity news, Director Jon Kessler sold 97,767 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elimelech Rosner sold 58,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the sale, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 291,744 shares of company stock valued at $32,705,007 over the last ninety days. 1.50% of the stock is owned by insiders.

HealthEquity Price Performance

NASDAQ HQY opened at $87.98 on Thursday. The business's fifty day moving average is $96.01 and its 200 day moving average is $96.15. HealthEquity, Inc. has a fifty-two week low of $73.84 and a fifty-two week high of $116.65. The company has a market capitalization of $7.61 billion, a PE ratio of 64.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.54. 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 earnings results on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. The company had revenue of $330.80 million for 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 period in the previous year, the business earned $0.80 earnings per share. HealthEquity has set its FY 2026 guidance at 3.610-3.78 EPS. Sell-side analysts predict that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

HealthEquity 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.

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