TD Asset Management Inc Sells 3,038 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• TD Asset Management Inc has reduced its stake in HealthEquity, Inc. by 11.5%, holding 23,306 shares worth approximately $2.06 million as of the latest filing.
• Several hedge funds have increased their positions in HealthEquity, with FMR LLC holding the largest stake at 5.4 million shares valued at around $519.6 million.
• HealthEquity's stock has faced fluctuations, recently priced at $91.06, and has been rated primarily as a "Buy" with an average price target of $118.55 according to analysts.

TD Asset Management Inc reduced its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,306 shares of the company's stock after selling 3,038 shares during the quarter. TD Asset Management Inc's holdings in HealthEquity were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC boosted its position in HealthEquity by 19.5% during the 1st quarter. HB Wealth Management LLC now owns 3,248 shares of the company's stock worth $287,000 after acquiring an additional 531 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of HealthEquity by 128.8% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,071 shares of the company's stock valued at $95,000 after buying an additional 603 shares during the last quarter. Assetmark Inc. raised its stake in HealthEquity by 25.2% in the 1st quarter. Assetmark Inc. now owns 5,886 shares of the company's stock valued at $520,000 after acquiring an additional 1,184 shares during the period. ANB Bank bought a new stake in HealthEquity in the 1st quarter valued at $200,000. Finally, Cetera Investment Advisers raised its stake in HealthEquity by 47.3% in the 1st quarter. Cetera Investment Advisers now owns 5,260 shares of the company's stock valued at $465,000 after acquiring an additional 1,688 shares during the period. 99.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HQY shares. Bank of America increased their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. JMP Securities raised their price objective on HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $120.00 price objective (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price target on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Finally, KeyCorp cut their price target on HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One research 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $118.55.

HealthEquity Stock Performance

Shares of HQY stock traded up $0.02 on Wednesday, hitting $91.03. 651,876 shares of the stock were exchanged, compared to its average volume of 1,017,967. 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 $7.87 billion, a PE ratio of 66.49, a P/E/G ratio of 1.41 and a beta of 0.54. HealthEquity, Inc. has a one year low of $67.32 and a one year high of $116.65. The firm's 50 day moving average is $100.81 and its two-hundred day moving average is $98.09.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. The business had revenue of $330.80 million for 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 quarter in the prior year, the firm posted $0.80 EPS. Sell-side analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HealthEquity news, Director Jon Kessler sold 97,767 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.05, for a total value of $10,954,792.35. Following the sale, the director owned 75,000 shares of the company's stock, valued at $8,403,750. This trade represents a 56.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the sale, the executive vice president directly owned 75,689 shares in the company, valued at approximately $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 291,744 shares of company stock valued at $32,705,007. Corporate 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.