Iron Gate Global Advisors LLC Reduces Position in HealthEquity, Inc. $HQY

Key Points

• Iron Gate Global Advisors LLC reduced its holdings in HealthEquity, Inc. by 25.8%, selling 6,165 shares and now owning 17,723 shares valued at approximately $1.57 million.
• Several institutional investors increased their stakes in HealthEquity, with Invesco Ltd. boosting its position by 50.6% and Price T Rowe Associates Inc. increasing by 995.6% during the first quarter.
• Wall Street analysts have upgraded their price targets for HealthEquity, with a consensus price target now at $119.77 and a general sentiment of a 'Buy' rating among analysts.

Iron Gate Global Advisors LLC reduced its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,723 shares of the company's stock after selling 6,165 shares during the period. Iron Gate Global Advisors LLC's holdings in HealthEquity were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in HQY. Wealth Enhancement Advisory Services LLC lifted its stake in HealthEquity by 24.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock worth $564,000 after purchasing an additional 1,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in HealthEquity by 7,983.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after purchasing an additional 24,350 shares during the last quarter. GAMMA Investing LLC lifted its stake in HealthEquity by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock worth $139,000 after purchasing an additional 323 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in HealthEquity by 995.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock worth $56,500,000 after purchasing an additional 580,988 shares during the last quarter. Finally, WCM Investment Management LLC bought a new stake in HealthEquity during the first quarter worth $20,230,000. 99.55% of the stock is currently owned by institutional investors.

HealthEquity Stock Performance

NASDAQ:HQY traded down $2.63 during trading hours on Tuesday, hitting $90.39. 211,137 shares of the company were exchanged, compared to its average volume of 1,035,600. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 54.78, a PEG ratio of 1.33 and a beta of 0.50. HealthEquity, Inc. has a 52-week low of $74.07 and a 52-week high of $116.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.23 and a quick ratio of 4.23. The company's 50 day moving average price is $93.28 and its 200-day moving average price is $94.22.

Insiders Place Their Bets

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the business's 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 sale, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HQY shares. JPMorgan Chase & Co. upped their target price on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Bank of America increased their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Jefferies Financial Group increased their price target on HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Barrington Research reiterated an "outperform" rating and issued a $125.00 price target on shares of HealthEquity in a research note on Friday, August 29th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $120.00 price objective (up from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, HealthEquity presently has an average rating of "Buy" and a consensus target price of $119.77.

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.