HealthEquity, Inc. (NASDAQ:HQY) Stock Holdings Lessened by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC reduced its shares in HealthEquity, Inc. by 14.4% during the 1st quarter, holding approximately 0.28% of the company's stock valued at around $21.6 million.
• HealthEquity reported $0.97 earnings per share for the last quarter, exceeding expectations, with revenue of $330.8 million, also surpassing consensus estimates.
• Deutsche Bank and JMP Securities both raised their target prices for HealthEquity, indicating a positive sentiment towards the stock, which has a current consensus rating of "Buy".

Summit Creek Advisors LLC trimmed its holdings in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 244,860 shares of the company's stock after selling 41,053 shares during the quarter. HealthEquity comprises about 3.2% of Summit Creek Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Summit Creek Advisors LLC owned approximately 0.28% of HealthEquity worth $21,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc acquired a new stake in HealthEquity in the first quarter valued at approximately $28,000. Transce3nd LLC bought a new stake in HealthEquity during the 4th quarter worth $29,000. Larson Financial Group LLC increased its holdings in 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 purchasing an additional 642 shares in the last quarter. Whipplewood Advisors LLC raised its position in HealthEquity by 5,060.0% in the first quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock valued at $68,000 after purchasing an additional 759 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of HealthEquity by 89.4% during the fourth quarter. Huntington National Bank now owns 767 shares of the company's stock valued at $74,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 99.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HQY. Barrington Research raised their price objective on shares of HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. KeyCorp dropped their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JMP Securities boosted their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group raised their target price on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Bank of America lifted their target price on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $118.55.

Insider Activity at HealthEquity

In related news, Director Jon Kessler sold 97,767 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total value of $10,954,792.35. Following the transaction, the director directly owned 75,000 shares in the company, valued at $8,403,750. This trade represents a 56.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction 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 of the company's stock, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 291,744 shares of company stock valued at $32,705,007 in the last three months. Corporate insiders own 1.50% of the company's stock.

HealthEquity Trading Down 0.9%

Shares of HealthEquity stock traded down $0.84 on Thursday, reaching $97.96. 386,692 shares of the company's stock were exchanged, compared to its average volume of 1,011,271. The company has a market capitalization of $8.47 billion, a P/E ratio of 71.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.49. HealthEquity, Inc. has a 52 week low of $65.01 and a 52 week high of $116.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. The firm's 50-day moving average is $101.39 and its two-hundred day moving average is $98.36.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. During the same period in the prior year, the firm earned $0.80 earnings per share. Sell-side analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

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.