Axiom Investors LLC DE Takes $8.28 Million Position in HealthEquity, Inc. $HQY

Key Points

• Axiom Investors LLC DE has acquired a new stake in HealthEquity, Inc. worth approximately $8.28 million, purchasing 93,654 shares during the first quarter.
• Major investors like Invesco Ltd. and Goldman Sachs Group Inc. have significantly increased their holdings in HealthEquity, highlighting growing institutional interest, with 99.55% of the stock currently owned by institutional investors.
• HealthEquity has received positive analyst ratings recently, with price targets raised by multiple firms, including JPMorgan and Jefferies, underscoring a generally optimistic outlook for the stock.

Axiom Investors LLC DE purchased a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 93,654 shares of the company's stock, valued at approximately $8,276,000. Axiom Investors LLC DE owned approximately 0.11% of HealthEquity at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its holdings in HealthEquity by 50.6% during the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock worth $216,171,000 after acquiring an additional 821,425 shares in the last quarter. Goldman Sachs Group Inc. increased its position in HealthEquity by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company's stock worth $100,138,000 after buying an additional 15,458 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock worth $97,293,000 after buying an additional 14,159 shares during the last quarter. Stephens Investment Management Group LLC increased its position in HealthEquity by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock worth $94,507,000 after buying an additional 19,009 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in HealthEquity by 24.9% during the first quarter. Wellington Management Group LLP now owns 848,940 shares of the company's stock worth $75,021,000 after buying an additional 169,337 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HQY has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. JMP Securities boosted their price target on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada boosted their price target on HealthEquity from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price target on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group boosted their price target on HealthEquity from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $119.77.

Insider Transactions at HealthEquity

In related news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the sale, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

HealthEquity Price Performance

HealthEquity stock opened at $91.48 on Monday. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 55.44, a PEG ratio of 1.30 and a beta of 0.50. HealthEquity, Inc. has a 12 month low of $74.07 and a 12 month high of $116.65. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average is $94.37 and its 200-day moving average is $94.86.

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.

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