Vanguard Group Inc. Sells 154,253 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Vanguard Group Inc. reduced its stake in HealthEquity, Inc. by 1.7%, owning 8,821,838 shares valued at approximately $779.6 million after selling 154,253 shares in the most recent quarter.
• Several other hedge funds increased their positions in HealthEquity, with New Age Alpha Advisors significantly boosting its stake by 755.8%.
• HealthEquity's stock received positive updates from analysts, with most maintaining a "buy" rating and a price target increase to an average of $118.55.

Vanguard Group Inc. cut its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,821,838 shares of the company's stock after selling 154,253 shares during the quarter. Vanguard Group Inc. owned 10.20% of HealthEquity worth $779,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of HealthEquity by 24.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $564,000 after buying an additional 1,265 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of HealthEquity by 7,983.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock valued at $2,179,000 after buying an additional 24,350 shares during the period. GAMMA Investing LLC lifted its holdings in shares of HealthEquity by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after buying an additional 323 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of HealthEquity by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 124,940 shares of the company's stock valued at $11,988,000 after buying an additional 5,594 shares during the period. Finally, WCM Investment Management LLC bought a new position in shares of HealthEquity during the 1st quarter valued at $20,230,000. 99.55% of the stock is owned by institutional investors.

HealthEquity Price Performance

HQY stock traded up $2.46 during trading on Friday, reaching $89.89. The company's stock had a trading volume of 894,425 shares, compared to its average volume of 838,496. The company has a market capitalization of $7.77 billion, a P/E ratio of 65.61, a price-to-earnings-growth ratio of 1.39 and a beta of 0.54. The company's fifty day moving average is $98.42 and its 200-day moving average is $97.27. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. HealthEquity, Inc. has a 1 year low of $72.79 and a 1 year high of $116.65.

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 analysts' consensus estimates of $0.81 by $0.16. The firm had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. During the same quarter last year, the business posted $0.80 earnings per share. On average, research analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the completion of the transaction, the executive vice president owned 75,689 shares in the company, valued at $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Henry Fiore sold 1,794 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the transaction, the executive vice president owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock worth $32,705,007 over the last 90 days. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

HQY has been the subject of several analyst reports. The Goldman Sachs Group upped 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. Bank of America upped 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. Royal Bank Of Canada upped their price objective on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, JMP Securities upped 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 analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, HealthEquity presently has a consensus rating of "Buy" and an average target price of $118.55.

About HealthEquity

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.