Fred Alger Management LLC bought a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,497 shares of the company's stock, valued at approximately $1,583,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in HealthEquity in the 4th quarter worth about $26,000. Transce3nd LLC purchased a new position in shares of HealthEquity in the 4th quarter worth about $29,000. Smartleaf Asset Management LLC boosted its holdings in shares of HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock worth $37,000 after buying an additional 98 shares during the last quarter. Proficio Capital Partners LLC bought a new position in HealthEquity during the fourth quarter valued at about $39,000. Finally, UMB Bank n.a. increased its holdings in HealthEquity by 65.6% during the fourth quarter. UMB Bank n.a. now owns 414 shares of the company's stock worth $40,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on HQY. Wells Fargo & Company increased their price target on HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price objective on HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Barrington Research restated an "outperform" rating and issued a $112.00 price objective on shares of HealthEquity in a research note on Friday, April 11th. KeyCorp dropped their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Raymond James upgraded shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $120.00 to $115.00 in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $111.75.
Check Out Our Latest Research Report on HQY
HealthEquity Price Performance
Shares of HQY traded up $1.07 during midday trading on Wednesday, reaching $98.06. The stock had a trading volume of 972,598 shares, compared to its average volume of 793,131. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 89.96, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. HealthEquity, Inc. has a 12-month low of $65.01 and a 12-month high of $115.59. The company's 50-day moving average is $87.77 and its 200 day moving average is $96.82.
Insider Activity at HealthEquity
In other 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 owns 84,969 shares of the company's stock, valued at approximately $6,597,842.85. The trade was a 6.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of HealthEquity 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 sale, the executive vice president now directly owns 56,655 shares in the company, valued at $4,433,820.30. The trade was a 13.55% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
HealthEquity Company Profile
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Free Report)
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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