Oppenheimer Asset Management Inc. Raises Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Oppenheimer Asset Management Inc. lifted its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,206 shares of the company's stock after buying an additional 4,614 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.09% of HealthEquity worth $6,646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covea Finance boosted its holdings in HealthEquity by 77.8% in the first quarter. Covea Finance now owns 32,000 shares of the company's stock valued at $2,828,000 after purchasing an additional 14,000 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of HealthEquity by 1.8% during the first quarter. State of Alaska Department of Revenue now owns 10,136 shares of the company's stock worth $895,000 after purchasing an additional 180 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of HealthEquity by 17.3% during the first quarter. Janney Montgomery Scott LLC now owns 6,276 shares of the company's stock worth $555,000 after purchasing an additional 924 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of HealthEquity by 10.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 835,413 shares of the company's stock worth $73,826,000 after purchasing an additional 76,950 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in HealthEquity by 24.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock worth $564,000 after acquiring an additional 1,265 shares in the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $78.26, for a total value of $695,027.06. Following the transaction, the executive vice president now owns 56,655 shares of the company's stock, valued at approximately $4,433,820.30. The trade was a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,581 shares of company stock valued at $33,664,018 in the last three months. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HQY. Wells Fargo & Company increased their price objective on HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Barrington Research lifted their price objective on HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft raised their price target on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group lifted their price objective on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $118.09.

HealthEquity Stock Performance

HealthEquity stock opened at $104.18 on Wednesday. The stock's 50 day moving average price is $96.77 and its 200 day moving average price is $97.86. The firm has a market capitalization of $9.01 billion, a PE ratio of 76.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. The company 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 company posted $0.80 EPS. As a group, sell-side analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

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.

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