HealthEquity (NASDAQ:HQY) Shares Down 4% - Here's What Happened

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) shares fell 4% during mid-day trading on Monday . The stock traded as low as $100.67 and last traded at $100.59. 695,771 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 1,035,082 shares. The stock had previously closed at $104.76.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Raymond James upgraded shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and reduced their price target for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. The Goldman Sachs Group increased their price target on shares of HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company upped their target price on HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. One investment 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 company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $118.09.

HealthEquity Price Performance

The stock has a 50-day moving average price of $93.96 and a two-hundred day moving average price of $97.82. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 92.73, a PEG ratio of 1.60 and a beta of 0.49.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. The firm had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, equities research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Buying and Selling at HealthEquity

In related news, Director Jon Kessler sold 134,183 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the transaction, the director now directly owns 253,510 shares of the company's stock, valued at $28,413,400.80. This represents a 34.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elimelech Rosner sold 58,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the sale, the executive vice president now directly owns 75,689 shares of the company's stock, valued at approximately $8,519,553.84. This represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,581 shares of company stock worth $33,664,018. Insiders own 1.50% of the company's stock.

Institutional Trading of HealthEquity

Several institutional investors and hedge funds have recently modified their holdings of HQY. Arcadia Investment Management Corp MI purchased a new position in HealthEquity during the fourth quarter worth about $26,000. Versant Capital Management Inc acquired a new stake in HealthEquity during the 1st quarter valued at $28,000. WPG Advisers LLC bought a new stake in shares of HealthEquity in the first quarter worth $28,000. Transce3nd LLC acquired a new position in HealthEquity in the fourth quarter worth $29,000. Finally, Smartleaf Asset Management LLC lifted its holdings in HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock worth $37,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 99.55% 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.

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