Goldman Sachs Group Inc. Purchases 15,458 Shares of HealthEquity, Inc. $HQY

Key Points

• Goldman Sachs Group Inc. increased its position in HealthEquity, owning approximately 1.31% of the company's stock, valued at over $100 million as of the latest SEC filing.
• HealthEquity's shares have received positive ratings from analysts, with target prices raised by firms like JPMorgan and Goldman Sachs, indicating strong investor confidence.
• Institutional investors dominate ownership of HealthEquity, holding over 99.55% of its stock, reflecting significant backing from major financial entities.

Goldman Sachs Group Inc. boosted its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,133,166 shares of the company's stock after buying an additional 15,458 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.31% of HealthEquity worth $100,138,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in HealthEquity in the first quarter valued at about $28,000. WPG Advisers LLC acquired a new stake in shares of HealthEquity during the first quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of HealthEquity by 176.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock valued at $58,000 after purchasing an additional 418 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of HealthEquity by 1,366.0% during the first quarter. Larson Financial Group LLC now owns 689 shares of the company's stock valued at $61,000 after purchasing an additional 642 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of HealthEquity during the first quarter valued at about $65,000. 99.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Barrington Research reissued an "outperform" rating and set a $125.00 price target on shares of HealthEquity in a research note on Friday, August 29th. Royal Bank Of Canada lifted their price target on HealthEquity from $109.00 to $110.00 and gave the company an "outperform" 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. Finally, JPMorgan Chase & Co. raised their price objective on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $119.77.

Insiders Place Their Bets

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the sale, the executive vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

HealthEquity Trading Up 3.6%

HQY stock traded up $3.31 during mid-day trading on Thursday, reaching $95.59. The company's stock had a trading volume of 1,070,498 shares, compared to its average volume of 1,219,802. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 57.93, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The business's 50 day moving average price is $92.86 and its 200 day moving average price is $94.12. 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, Inc. has a 12 month low of $74.07 and a 12 month high of $116.65.

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.