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 acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,550 shares of the company's stock, valued at approximately $756,000.

Other large investors also recently modified their holdings of the company. Fortis Capital Advisors LLC purchased a new position in HealthEquity in the 1st quarter worth approximately $756,000. Intech Investment Management LLC increased its stake in HealthEquity by 73.9% in the 1st quarter. Intech Investment Management LLC now owns 56,775 shares of the company's stock worth $5,017,000 after purchasing an additional 24,125 shares during the period. Bayforest Capital Ltd increased its stake in HealthEquity by 65.7% in the 1st quarter. Bayforest Capital Ltd now owns 5,025 shares of the company's stock worth $444,000 after purchasing an additional 1,992 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in HealthEquity by 1.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 372,745 shares of the company's stock worth $32,939,000 after purchasing an additional 5,992 shares during the period. Finally, Axiom Investors LLC DE purchased a new position in HealthEquity in the 1st quarter worth approximately $8,276,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HQY has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price target on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Barrington Research reaffirmed an "outperform" rating and issued a $125.00 price target on shares of HealthEquity in a research note on Friday, August 29th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $120.00 price target (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Finally, Bank of America lifted their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, HealthEquity presently has an average rating of "Buy" and a consensus target price of $119.77.

Insider Transactions at HealthEquity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity 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 completion of the transaction, the executive vice president owned 53,225 shares in the company, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

HealthEquity Stock Up 1.9%

NASDAQ:HQY traded up $1.78 during trading hours on Thursday, reaching $94.06. 370,999 shares of the company traded hands, compared to its average volume of 1,033,322. The business's 50-day moving average price is $92.90 and its two-hundred day moving average price is $94.19. The stock has a market capitalization of $8.10 billion, a P/E ratio of 57.00, a P/E/G ratio of 1.31 and a beta of 0.50. HealthEquity, Inc. has a 1 year low of $74.07 and a 1 year 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.

HealthEquity Company 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.