Bank of America Corp DE Reduces Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Bank of America Corp DE lessened its holdings in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 606,197 shares of the company's stock after selling 40,998 shares during the quarter. Bank of America Corp DE owned 0.70% of HealthEquity worth $58,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of HQY. Ameriprise Financial Inc. boosted its stake in shares of HealthEquity by 56.4% during the 4th quarter. Ameriprise Financial Inc. now owns 270,042 shares of the company's stock valued at $25,911,000 after purchasing an additional 97,329 shares in the last quarter. Aristotle Capital Boston LLC lifted its stake in shares of HealthEquity by 6.5% in the fourth quarter. Aristotle Capital Boston LLC now owns 573,441 shares of the company's stock worth $55,022,000 after buying an additional 35,128 shares in the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of HealthEquity during the fourth quarter valued at approximately $209,000. Kapitalo Investimentos Ltda purchased a new position in shares of HealthEquity during the fourth quarter valued at approximately $90,000. Finally, Northern Trust Corp raised its holdings in shares of HealthEquity by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,155,043 shares of the company's stock valued at $110,826,000 after purchasing an additional 121,001 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HQY. Wells Fargo & Company upped their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Raymond James raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $120.00 to $115.00 in a research note on Tuesday, March 25th. KeyCorp cut their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price target on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Finally, Barrington Research reiterated an "outperform" rating and issued a $112.00 target price on shares of HealthEquity in a research note on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, HealthEquity presently has a consensus rating of "Buy" and a consensus target price of $111.75.

HealthEquity Stock Performance

Shares of HQY stock traded up $0.58 during trading hours on Friday, hitting $98.23. The stock had a trading volume of 815,837 shares, compared to its average volume of 794,502. The firm has a market capitalization of $8.50 billion, a PE ratio of 90.12, a PEG ratio of 1.60 and a beta of 0.45. HealthEquity, Inc. has a twelve month low of $65.01 and a twelve month high of $115.59. The stock's 50 day moving average is $87.88 and its 200 day moving average is $96.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the sale, the director now owns 84,969 shares of the company's stock, valued at approximately $6,597,842.85. This trade represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of the sale, the executive vice president now directly owns 56,655 shares of the company's stock, valued at approximately $4,433,820.30. This trade represents a 13.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

HealthEquity 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.