Portside Wealth Group LLC Takes $225,000 Position in HealthEquity, Inc. (NASDAQ:HQY)

Portside Wealth Group LLC bought a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,349 shares of the company's stock, valued at approximately $225,000.

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

Insider Transactions at HealthEquity

In related news, Director Robert W. Selander sold 5,750 shares of HealthEquity stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the sale, the director now directly owns 84,969 shares in the company, valued at $6,597,842.85. The trade was a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $78.26, for a total transaction of $695,027.06. Following the transaction, the executive vice president now directly owns 56,655 shares in the company, valued at approximately $4,433,820.30. The trade was a 13.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HQY shares. Bank of America upped their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday. Raymond James raised HealthEquity from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $120.00 to $115.00 in a report on Tuesday, March 25th. The Goldman Sachs Group boosted their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $118.09.

HealthEquity Stock Performance

HQY stock opened at $112.70 on Friday. HealthEquity, Inc. has a 1 year low of $65.01 and a 1 year high of $116.65. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 103.39, a PEG ratio of 1.60 and a beta of 0.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The stock's fifty day moving average is $90.99 and its two-hundred day moving average is $97.74.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. The firm had revenue of $330.80 million for the quarter, compared to the consensus estimate of $322.25 million. During the same period last year, the firm posted $0.80 EPS. On average, research analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current year.

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.

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