Iron Triangle Partners LP Purchases New Shares in HealthEquity, Inc. (NASDAQ:HQY)

Iron Triangle Partners LP purchased a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 335,614 shares of the company's stock, valued at approximately $32,202,000. HealthEquity comprises 3.5% of Iron Triangle Partners LP's investment portfolio, making the stock its 14th biggest position. Iron Triangle Partners LP owned 0.39% of HealthEquity as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HQY. Wealthfront Advisers LLC purchased a new stake in HealthEquity during the 4th quarter valued at $10,304,089,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of HealthEquity in the fourth quarter worth $78,107,000. Norges Bank purchased a new stake in HealthEquity during the fourth quarter valued at $74,701,000. Raymond James Financial Inc. bought a new position in HealthEquity in the fourth quarter valued at about $45,728,000. Finally, Artisan Partners Limited Partnership bought a new position in HealthEquity in the fourth quarter valued at about $24,568,000. 99.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HQY. The Goldman Sachs Group lowered their price objective on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Raymond James upgraded shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $120.00 to $115.00 in a research note on Tuesday, March 25th. Barrington Research reissued an "outperform" rating and set a $112.00 price objective on shares of HealthEquity in a research report on Friday, April 11th. Wells Fargo & Company raised their target price on HealthEquity from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, KeyCorp cut their price target on HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, HealthEquity currently has an average rating of "Buy" and a consensus target price of $111.75.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the 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 completion of the transaction, the director now owns 84,969 shares of the company's stock, valued at $6,597,842.85. This represents a 6.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Henry Fiore sold 8,881 shares of HealthEquity stock in a transaction dated Friday, April 4th. The stock was 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 in the company, valued at $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

HealthEquity Price Performance

Shares of NASDAQ:HQY traded up $0.58 during trading on Friday, hitting $98.23. 815,812 shares of the company's stock were exchanged, compared to its average volume of 793,557. The business's 50-day simple moving average is $87.83 and its 200 day simple moving average is $96.89. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 90.12, a PEG ratio of 1.60 and a beta of 0.45. HealthEquity, Inc. has a 52-week low of $65.01 and a 52-week high of $115.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

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.