Ontario Teachers Pension Plan Board Invests $745,000 in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• The Ontario Teachers Pension Plan Board has made a new investment by purchasing 8,428 shares of HealthEquity, Inc. valued at approximately $745,000.
• Multiple institutional investors have also increased their stake in HealthEquity, with hedge funds and other institutional entities owning 99.55% of the stock.
• HealthEquity reported an earnings per share of $0.97, surpassing analysts' expectations, and several analysts have increased their price targets, with the average target now at $118.55.

Ontario Teachers Pension Plan Board purchased a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,428 shares of the company's stock, valued at approximately $745,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new position in shares of HealthEquity during the first quarter worth $28,000. Transce3nd LLC bought a new stake in shares of HealthEquity during the fourth quarter worth about $29,000. Larson Financial Group LLC grew its position 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 grew its position in HealthEquity by 5,060.0% in the 1st quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock worth $68,000 after purchasing an additional 759 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of HealthEquity by 104.8% during the 1st quarter. UMB Bank n.a. now owns 848 shares of the company's stock valued at $75,000 after acquiring an additional 434 shares during the period. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HQY. KeyCorp dropped their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JMP Securities upped their price target on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group raised their price target on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Royal Bank Of Canada lifted their target price on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $118.55.

HealthEquity Stock Up 1.3%

NASDAQ HQY traded up $1.21 during trading on Friday, reaching $93.05. 616,384 shares of the company's stock traded hands, compared to its average volume of 880,674. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 67.92, a price-to-earnings-growth ratio of 1.44 and a beta of 0.54. The company's 50 day simple moving average is $100.26 and its two-hundred day simple moving average is $97.78. HealthEquity, Inc. has a 12-month low of $69.52 and a 12-month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $322.25 million. During the same period last year, the business earned $0.80 EPS. As a group, sell-side analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity 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 completion of the sale, the executive vice president directly owned 53,225 shares in the company, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the transaction, the executive vice president directly owned 75,689 shares of the company's stock, valued at approximately $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 291,744 shares of company stock worth $32,705,007. Company insiders own 1.50% of the company's stock.

About HealthEquity

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.