Covea Finance Grows Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Covea Finance grew its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 77.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the company's stock after purchasing an additional 14,000 shares during the quarter. Covea Finance's holdings in HealthEquity were worth $2,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HQY. Principal Financial Group Inc. boosted its position in shares of HealthEquity by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 262,968 shares of the company's stock valued at $25,232,000 after purchasing an additional 20,563 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of HealthEquity by 5.0% during the 4th quarter. Sanctuary Advisors LLC now owns 3,335 shares of the company's stock valued at $320,000 after buying an additional 159 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of HealthEquity by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,640 shares of the company's stock valued at $253,000 after buying an additional 139 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of HealthEquity in the 4th quarter worth about $238,000. Finally, New York State Common Retirement Fund increased its stake in shares of HealthEquity by 142.6% in the 4th quarter. New York State Common Retirement Fund now owns 102,200 shares of the company's stock worth $9,806,000 after acquiring an additional 60,077 shares in the last quarter. 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 recent research reports. Wells Fargo & Company upped their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Bank of America raised their price objective on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada boosted their target price on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Finally, Barrington Research raised their price target on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, HealthEquity presently has a consensus rating of "Buy" and a consensus target price of $118.09.

HealthEquity Stock Performance

NASDAQ:HQY traded up $2.97 during mid-day trading on Tuesday, reaching $104.18. The company's stock had a trading volume of 1,342,892 shares, compared to its average volume of 849,558. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.01 billion, a P/E ratio of 76.04, a PEG ratio of 1.55 and a beta of 0.49. The firm's fifty day moving average price is $96.35 and its two-hundred day moving average price is $97.82. HealthEquity, Inc. has a 12-month low of $65.01 and a 12-month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. During the same period in the previous year, the company earned $0.80 earnings per share. On average, equities analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Transactions at HealthEquity

In other news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now owns 84,969 shares in the company, valued at $6,597,842.85. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elimelech Rosner sold 58,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the sale, the executive vice president now owns 75,689 shares of the company's stock, valued at $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,581 shares of company stock worth $33,664,018 in the last ninety days. Insiders own 1.50% of the company's stock.

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.