United Services Automobile Association Invests $490,000 in HealthEquity, Inc. $HQY

Key Points

• United Services Automobile Association acquired a new stake in HealthEquity, Inc. by purchasing 5,637 shares valued at approximately $490,000 in the first quarter of the year.
• Insider activity noted that EVP Michael Henry Fiore sold 1,794 shares of HealthEquity for over $182,000, reducing their holdings and reflecting a 3.26% decrease in ownership.
• Several analysts have increased their price targets for HealthEquity, with Bank of America raising their target from $110.00 to $125.00, reflecting a strong positive sentiment towards the company’s stock.

United Services Automobile Association acquired a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,637 shares of the company's stock, valued at approximately $490,000.

A number of other hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of HealthEquity by 50.6% in the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock worth $216,171,000 after buying an additional 821,425 shares in the last quarter. Goldman Sachs Group Inc. raised its position in HealthEquity by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company's stock valued at $100,138,000 after purchasing an additional 15,458 shares during the period. Charles Schwab Investment Management Inc. raised its position in HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock valued at $97,293,000 after purchasing an additional 14,159 shares during the period. Stephens Investment Management Group LLC raised its position in HealthEquity by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock valued at $94,507,000 after purchasing an additional 19,009 shares during the period. Finally, Wellington Management Group LLP raised its position in HealthEquity by 24.9% during the first quarter. Wellington Management Group LLP now owns 848,940 shares of the company's stock valued at $75,021,000 after purchasing an additional 169,337 shares during the period. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Price Performance

Shares of NASDAQ:HQY traded down $2.51 during trading on Tuesday, reaching $90.51. 168,921 shares of the company's stock traded hands, compared to its average volume of 1,035,259. HealthEquity, Inc. has a fifty-two week low of $74.07 and a fifty-two week high of $116.65. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.47. The firm has a market cap of $7.80 billion, a PE ratio of 54.95, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a 50-day simple moving average of $93.28 and a 200-day simple moving average of $94.22.

Insider Activity at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the sale, the executive vice president directly owned 53,225 shares in the company, valued at $5,414,579.25. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on HealthEquity from $94.00 to $104.00 and gave the company 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. Royal Bank Of Canada increased their price objective on HealthEquity from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Jefferies Financial Group boosted their price target on shares of HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, HealthEquity has an average rating of "Buy" and an average target price of $119.77.

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.