State of New Jersey Common Pension Fund D Sells 3,585 Shares of HealthEquity, Inc. $HQY

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in HealthEquity, Inc. (NASDAQ:HQY) by 11.0% in the first quarter, resulting in ownership of 29,030 shares valued at approximately $2.57 million.
• Several large investors increased their positions in HealthEquity, with American Century Companies boosting its stake by 35.8% and Russell Investments Group increasing by 108.7%.
• Analysts have raised their price targets for HealthEquity, with Royal Bank of Canada setting a target of $117.00 and Bank of America reaching $125.00, while the average target price is around $118.55.

State of New Jersey Common Pension Fund D lowered its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 11.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,030 shares of the company's stock after selling 3,585 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in HealthEquity were worth $2,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Hancock Whitney Corp raised its position in shares of HealthEquity by 1.0% during the fourth quarter. Hancock Whitney Corp now owns 13,326 shares of the company's stock worth $1,279,000 after acquiring an additional 133 shares during the last quarter. Xponance Inc. raised its position in shares of HealthEquity by 1.1% during the first quarter. Xponance Inc. now owns 12,412 shares of the company's stock worth $1,097,000 after acquiring an additional 136 shares during the last quarter. Fifth Third Bancorp raised its position in shares of HealthEquity by 17.5% during the first quarter. Fifth Third Bancorp now owns 955 shares of the company's stock worth $84,000 after acquiring an additional 142 shares during the last quarter. Greenleaf Trust grew its stake in shares of HealthEquity by 7.8% during the first quarter. Greenleaf Trust now owns 2,407 shares of the company's stock worth $213,000 after purchasing an additional 175 shares during the period. Finally, State of Alaska Department of Revenue grew its stake 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. Institutional investors own 99.55% of the company's stock.

HealthEquity Stock Down 2.7%

Shares of HQY stock traded down $2.40 on Monday, hitting $87.42. 905,205 shares of the stock were exchanged, compared to its average volume of 1,008,071. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $7.56 billion, a P/E ratio of 63.81, a price-to-earnings-growth ratio of 1.39 and a beta of 0.54. The business has a 50-day moving average of $96.78 and a 200 day moving average of $96.43. HealthEquity, Inc. has a fifty-two week low of $73.84 and a fifty-two week high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%.The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. During the same period in the prior year, the firm posted $0.80 earnings per share. HealthEquity has set its FY 2026 guidance at 3.610-3.78 EPS. Equities analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HQY. Bank of America lifted their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $120.00 price objective (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. The Goldman Sachs Group lifted their price objective on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, JMP Securities lifted their price objective on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $118.55.

Insider Activity at HealthEquity

In related news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the transaction, the executive vice president directly owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Kessler sold 134,183 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.08, for a total value of $15,039,230.64. Following the transaction, the director directly owned 253,510 shares of the company's stock, valued at $28,413,400.80. This trade represents a 34.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 291,744 shares of company stock valued at $32,705,007. Insiders own 1.50% of the company's stock.

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.