Granahan Investment Management LLC acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 59,539 shares of the company's stock, valued at approximately $5,261,000. Granahan Investment Management LLC owned about 0.07% of HealthEquity at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position 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 buying an additional 1,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 24,350 shares during the last quarter. GAMMA Investing LLC boosted its position 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 buying an additional 323 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in HealthEquity by 995.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock worth $56,500,000 after purchasing an additional 580,988 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in HealthEquity in the first quarter worth about $20,230,000. 99.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on HQY. Jefferies Financial Group raised their target price on HealthEquity from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. JMP Securities raised their target price on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group raised their target price on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada raised their target price on HealthEquity from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $119.77.
Get Our Latest Analysis on HQY
Insider Transactions at HealthEquity
In related 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 transaction of $182,503.62. Following the sale, the executive vice president owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. This trade represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company's stock.
HealthEquity Stock Performance
Shares of HQY stock traded down $6.22 during trading hours on Friday, reaching $91.48. 2,039,271 shares of the company traded hands, compared to its average volume of 1,220,516. HealthEquity, Inc. has a 12-month low of $74.07 and a 12-month high of $116.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.23 and a quick ratio of 4.23. The company has a market cap of $7.88 billion, a P/E ratio of 55.44, a P/E/G ratio of 1.30 and a beta of 0.50. The firm has a 50-day moving average price of $94.37 and a 200 day moving average price of $94.86.
HealthEquity Profile
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Free Report)
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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