Belpointe Asset Management LLC Invests $756,000 in HealthEquity, Inc. $HQY

Key Points

• Belpointe Asset Management LLC has invested approximately $756,000 in HealthEquity, Inc., purchasing 8,550 shares during the 1st quarter of the year.
• Major institutional investors like Invesco Ltd. and Goldman Sachs Group Inc. have also increased their stakes, reflecting growing interest, with institutional ownership now at 99.55% of the company's stock.
• HealthEquity has received positive ratings from analysts, including an upgrade to "buy" from Wall Street Zen, and several target price increases, with an average target of $119.77.

Belpointe Asset Management LLC purchased a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,550 shares of the company's stock, valued at approximately $756,000.

Several other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its stake in shares of HealthEquity by 50.6% during the 1st 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. boosted its stake in shares of HealthEquity by 1.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company's stock worth $100,138,000 after acquiring an additional 15,458 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of HealthEquity by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock worth $97,293,000 after acquiring an additional 14,159 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of HealthEquity by 1.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock worth $94,507,000 after acquiring an additional 19,009 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of HealthEquity by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 848,940 shares of the company's stock worth $75,021,000 after acquiring an additional 169,337 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HQY. 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 note on Wednesday, September 3rd. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft upped their target price on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Royal Bank Of Canada upped their target price on HealthEquity from $109.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Finally, Bank of America upped their target price on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, HealthEquity currently has an average rating of "Buy" and an average target price of $119.77.

HealthEquity Trading Up 0.2%

Shares of HealthEquity stock opened at $92.49 on Friday. HealthEquity, Inc. has a fifty-two week low of $74.07 and a fifty-two week high of $116.65. The firm has a market cap of $7.97 billion, a PE ratio of 56.05, a P/E/G ratio of 1.32 and a beta of 0.50. The business's fifty day moving average is $93.46 and its two-hundred day moving average is $94.50. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.