HealthEquity, Inc. $HQY Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in HealthEquity, Inc. by 5.0%, resulting in ownership of 109,191 shares valued at approximately $9.65 million.
• Institutional investors have significantly increased their stakes in HealthEquity, with Invesco Ltd. raising its holdings by 50.6% during the 1st quarter.
• Recent analyst reports have positive ratings for HealthEquity, with a consensus average target price of $119.77, indicating a strong buy outlook.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,191 shares of the company's stock after selling 5,695 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.13% of HealthEquity worth $9,649,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Granahan Investment Management LLC purchased a new stake in shares of HealthEquity during the first quarter valued at about $5,261,000. Hancock Whitney Corp increased its holdings in HealthEquity by 7.0% in the 1st quarter. Hancock Whitney Corp now owns 14,261 shares of the company's stock worth $1,260,000 after buying an additional 935 shares during the period. Alliancebernstein L.P. increased its holdings in HealthEquity by 20.6% in the 1st quarter. Alliancebernstein L.P. now owns 217,414 shares of the company's stock worth $19,213,000 after buying an additional 37,068 shares during the period. AQR Capital Management LLC increased its holdings in HealthEquity by 89.9% in the 1st quarter. AQR Capital Management LLC now owns 445,653 shares of the company's stock worth $38,540,000 after buying an additional 210,972 shares during the period. Finally, Advisors Asset Management Inc. acquired a new position in HealthEquity in the 1st quarter worth approximately $206,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HealthEquity

In related news, 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 value 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. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HQY. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. JMP Securities increased their price target on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. Bank of America increased their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $119.77.

HealthEquity Price Performance

HealthEquity stock traded up $0.98 during trading on Monday, reaching $93.47. The company had a trading volume of 107,342 shares, compared to its average volume of 1,035,660. The firm's 50-day simple moving average is $93.46 and its 200 day simple moving average is $94.33. HealthEquity, Inc. has a 1-year low of $74.07 and a 1-year high of $116.65. The firm has a market capitalization of $8.05 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23.

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.