Millennium Management LLC Has $52.02 Million Stake in HealthEquity, Inc. $HQY

Key Points

• Millennium Management LLC significantly reduced its holdings in HealthEquity, Inc. by 64.2%, selling over 1 million shares and now owning 588,687 shares valued at approximately $52 million.
• HealthEquity has received a range of upgrades from analysts, with Raymond James Financial raising its target price to $120.00 and maintaining a "strong-buy" rating.
• As of the latest reports, HealthEquity's stock is rated as a "Buy" by a consensus of analysts, with an average target price of $119.77.

Millennium Management LLC lessened its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 64.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 588,687 shares of the company's stock after selling 1,057,700 shares during the quarter. Millennium Management LLC owned about 0.68% of HealthEquity worth $52,022,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of HealthEquity during the 1st quarter worth about $28,000. Versant Capital Management Inc acquired a new position in HealthEquity in the 1st quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of HealthEquity by 176.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 655 shares of the company's stock worth $58,000 after buying an additional 418 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of HealthEquity by 1,366.0% in the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $61,000 after buying an additional 642 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of HealthEquity in the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 99.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased 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. JMP Securities raised their price objective on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. 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. 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. Finally, Bank of America lifted their price target 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 assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, HealthEquity currently has a consensus rating of "Buy" and an average target price of $119.77.

HealthEquity Stock Up 0.2%

Shares of NASDAQ:HQY traded up $0.15 during midday trading on Friday, reaching $92.49. The company had a trading volume of 616,085 shares, compared to its average volume of 1,205,472. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.47. The business's 50 day moving average price is $93.46 and its 200 day moving average price is $94.33. The stock has a market cap of $7.97 billion, a PE ratio of 56.05, a P/E/G ratio of 1.33 and a beta of 0.50. HealthEquity, Inc. has a 1-year low of $74.07 and a 1-year high of $116.65.

Insider Activity

In related news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $101.73, for a total value 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. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

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.