HealthEquity (NASDAQ:HQY) Stock Price Down 4.5% - Should You Sell?

Key Points

• HealthEquity's stock price fell by 4.5% during trading, with the last price at $90.50, significantly down from a previous close of $94.77.
• Despite the recent stock decline, multiple research analysts have issued optimistic ratings, with targets ranging from $110.00 to $134.00 and a consensus rating of "Buy."
• Institutional investors hold a significant majority of the company's stock, owning 99.55% of shares, reflecting strong institutional confidence in HealthEquity.

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) was down 4.5% during trading on Wednesday . The company traded as low as $90.18 and last traded at $90.50. Approximately 249,895 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,027,991 shares. The stock had previously closed at $94.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HQY shares. JMP Securities increased their price target on HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research report on Wednesday, June 4th. Jefferies Financial Group increased their price target on HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Bank of America increased their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft raised their target price on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Finally, Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, HealthEquity has a consensus rating of "Buy" and an average target price of $119.77.

HealthEquity Trading Down 4.6%

The stock has a market cap of $7.79 billion, a P/E ratio of 54.95, a P/E/G ratio of 1.37 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a 50-day moving average price of $92.52 and a 200-day moving average price of $93.91.

Insider Transactions at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity 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 completion of the sale, the executive vice president owned 53,225 shares in the company, valued at approximately $5,414,579.25. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Delano Ladd sold 6,000 shares of HealthEquity stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $94.11, for a total value of $564,660.00. Following the sale, the executive vice president owned 79,456 shares of the company's stock, valued at approximately $7,477,604.16. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Institutional Trading of HealthEquity

A number of hedge funds have recently bought and sold shares of HQY. Invesco Ltd. lifted its position in HealthEquity by 50.6% in the 1st 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 during the last quarter. Norges Bank bought a new stake in HealthEquity in the 2nd quarter worth approximately $75,072,000. Westfield Capital Management Co. LP lifted its position in HealthEquity by 124.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,265,208 shares of the company's stock worth $132,543,000 after buying an additional 701,819 shares during the last quarter. AQR Capital Management LLC lifted its position in HealthEquity by 148.5% in the second quarter. AQR Capital Management LLC now owns 1,107,448 shares of the company's stock valued at $116,016,000 after purchasing an additional 661,795 shares during the last quarter. Finally, Nuveen LLC bought a new stake in HealthEquity in the first quarter valued at approximately $53,076,000. Institutional investors own 99.55% of the company's stock.

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.

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