HealthEquity, Inc. (NASDAQ:HQY) Shares Acquired by Covea Finance

Covea Finance raised its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 77.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,000 shares of the company's stock after acquiring an additional 14,000 shares during the quarter. Covea Finance's holdings in HealthEquity were worth $2,828,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arcadia Investment Management Corp MI purchased a new stake in shares of HealthEquity in the 4th quarter valued at about $26,000. Versant Capital Management Inc purchased a new stake in shares of HealthEquity in the 1st quarter valued at about $28,000. Transce3nd LLC purchased a new stake in shares of HealthEquity in the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of HealthEquity in the 4th quarter valued at about $39,000. 99.55% of the stock is owned by institutional investors and hedge funds.

HealthEquity Stock Performance

NASDAQ HQY opened at $101.30 on Friday. The business has a 50 day moving average price of $95.99 and a 200 day moving average price of $97.87. The company has a market capitalization of $8.76 billion, a P/E ratio of 73.94, a PEG ratio of 1.56 and a beta of 0.49. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year high of $116.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results 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. The company had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same quarter in the prior year, the company earned $0.80 earnings per share. Sell-side analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on HQY. Barrington Research upped their price objective on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. JMP Securities upped their price objective on HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Royal Bank Of Canada upped their price objective on HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Bank of America upped their price objective on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company upped their price objective on HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $118.09.

Insider Transactions at HealthEquity

In related news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the completion of the sale, the director now owns 84,969 shares in the company, valued at approximately $6,597,842.85. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jon Kessler sold 134,183 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the completion of the transaction, the director now owns 253,510 shares in the company, valued at approximately $28,413,400.80. This trade represents a 34.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,581 shares of company stock valued at $33,664,018 in the last ninety days. 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.

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