Peregrine Capital Management LLC Cuts Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Peregrine Capital Management LLC lessened its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 93,332 shares of the company's stock after selling 10,050 shares during the period. Peregrine Capital Management LLC owned about 0.11% of HealthEquity worth $8,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of HealthEquity in the fourth quarter valued at approximately $10,304,089,000. T. Rowe Price Investment Management Inc. purchased a new position in HealthEquity in the 4th quarter valued at approximately $78,107,000. Norges Bank acquired a new position in shares of HealthEquity in the fourth quarter worth $74,701,000. Raymond James Financial Inc. purchased a new stake in shares of HealthEquity during the fourth quarter worth $45,728,000. Finally, Iron Triangle Partners LP acquired a new stake in shares of HealthEquity in the fourth quarter valued at $32,202,000. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Buying and Selling at HealthEquity

In related news, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the transaction, the executive vice president owned 56,655 shares of the company's stock, valued at $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the transaction, the director owned 84,969 shares in the company, valued at $6,597,842.85. This trade represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,581 shares of company stock worth $33,664,018 in the last 90 days. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

HQY has been the topic of several recent research reports. Raymond James Financial upgraded HealthEquity from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $120.00 to $115.00 in a report on Tuesday, March 25th. The Goldman Sachs Group upped their target price on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Bank of America raised their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. 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 stock. According to MarketBeat.com, HealthEquity currently has a consensus rating of "Buy" and an average price target of $118.09.

HealthEquity Stock Performance

NASDAQ HQY traded down $1.73 during trading hours on Thursday, hitting $99.55. The company had a trading volume of 627,812 shares, compared to its average volume of 859,355. The business has a 50 day moving average of $99.20 and a 200-day moving average of $98.14. The company has a market cap of $8.61 billion, a PE ratio of 72.66, a price-to-earnings-growth ratio of 1.58 and a beta of 0.49. HealthEquity, Inc. has a 1-year low of $65.01 and a 1-year 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.

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. The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities research analysts expect that HealthEquity, Inc. will post 2.32 EPS for the current 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.