HealthEquity, Inc. $HQY Shares Sold by Millennium Management LLC

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 HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 64.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 588,687 shares of the company's stock after selling 1,057,700 shares during the period. Millennium Management LLC owned 0.68% of HealthEquity worth $52,022,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in HealthEquity in the 1st quarter worth about $28,000. WPG Advisers LLC purchased a new position in HealthEquity during the 1st quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. increased its position in HealthEquity by 176.4% during the 1st 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 during the period. Larson Financial Group LLC increased its position in HealthEquity by 1,366.0% during the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock valued at $61,000 after purchasing an additional 642 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in HealthEquity during the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 99.55% of the company's stock.

HealthEquity Stock Performance

HQY stock traded up $0.15 during trading on Friday, reaching $92.49. The company had a trading volume of 616,085 shares, compared to its average volume of 1,041,081. The firm has a 50-day simple moving average of $93.60 and a 200-day simple moving average of $94.60. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 56.05, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. HealthEquity, Inc. has a twelve month low of $74.07 and a twelve month high of $116.65.

Insider Buying and Selling

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 shares were sold at an average price of $101.73, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HQY shares. Royal Bank Of Canada raised their target price on shares of HealthEquity from $109.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Bank of America raised their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on shares of HealthEquity from $125.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $119.77.

About HealthEquity

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.