Royal Bank of Canada Buys 41,434 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Royal Bank of Canada boosted its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,190 shares of the company's stock after buying an additional 41,434 shares during the quarter. Royal Bank of Canada owned 0.50% of HealthEquity worth $41,563,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Wealthfront Advisers LLC bought a new stake in shares of HealthEquity during the 4th quarter valued at about $10,304,089,000. Vanguard Group Inc. grew its stake in shares of HealthEquity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 8,976,091 shares of the company's stock valued at $861,256,000 after purchasing an additional 99,624 shares during the period. FMR LLC grew its stake in shares of HealthEquity by 2.4% during the 4th quarter. FMR LLC now owns 5,415,800 shares of the company's stock valued at $519,646,000 after acquiring an additional 125,684 shares during the period. Geode Capital Management LLC grew its stake in shares of HealthEquity by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,089,398 shares of the company's stock valued at $200,522,000 after acquiring an additional 10,421 shares during the period. Finally, Brown Advisory Inc. boosted its stake in HealthEquity by 12.0% in the 4th quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company's stock worth $200,154,000 after purchasing an additional 224,016 shares during the period. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Transactions at HealthEquity

In related news, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the sale, the executive vice president now owns 56,655 shares of the company's stock, valued at $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Selander sold 5,750 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total value of $446,487.50. Following the sale, the director now directly owns 84,969 shares in the company, valued at approximately $6,597,842.85. The trade was a 6.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on HealthEquity in a report on Thursday, May 22nd. They set an "outperform" rating and a $112.00 price target on the stock. The Goldman Sachs Group decreased their price target on HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company increased their price target on HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Raymond James raised HealthEquity from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. Finally, KeyCorp cut their price objective on HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, HealthEquity presently has an average rating of "Buy" and a consensus target price of $112.33.

HealthEquity Stock Up 1.4%

Shares of HQY traded up $1.38 during midday trading on Tuesday, reaching $100.39. 84,767 shares of the stock were exchanged, compared to its average volume of 989,626. HealthEquity, Inc. has a 52 week low of $65.01 and a 52 week high of $115.59. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The company's 50 day moving average is $88.32 and its two-hundred day moving average is $97.40. The company has a market capitalization of $8.68 billion, a P/E ratio of 92.10, a PEG ratio of 1.60 and a beta of 0.45.

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.