HealthEquity (NASDAQ:HQY) Stock Price Down 3.3%

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report)'s share price dropped 3.3% on Wednesday . The company traded as low as $79.82 and last traded at $80.03. Approximately 244,076 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 604,468 shares. The stock had previously closed at $82.79.

Analyst Ratings Changes

A number of brokerages have issued reports on HQY. Bank of America boosted their target price on shares of HealthEquity from $93.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on HealthEquity from $86.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company raised their target price on HealthEquity from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 6th. KeyCorp raised their price objective on shares of HealthEquity from $85.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of HealthEquity from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.73.

HealthEquity Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.76 and a quick ratio of 4.76. The company has a 50 day simple moving average of $80.43 and a 200-day simple moving average of $73.67. The firm has a market cap of $6.86 billion, a PE ratio of 124.84, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53.

Insiders Place Their Bets

In related news, CEO Jon Kessler sold 33,765 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $79.81, for a total transaction of $2,694,784.65. Following the completion of the sale, the chief executive officer now directly owns 126,635 shares in the company, valued at approximately $10,106,739.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other HealthEquity news, Director Evelyn S. Dilsaver sold 32,500 shares of the firm's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $79.29, for a total value of $2,576,925.00. Following the sale, the director now owns 32,123 shares of the company's stock, valued at approximately $2,547,032.67. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jon Kessler sold 33,765 shares of the business's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $79.81, for a total transaction of $2,694,784.65. Following the completion of the transaction, the chief executive officer now owns 126,635 shares in the company, valued at approximately $10,106,739.35. The disclosure for this sale can be found here. Insiders sold 73,908 shares of company stock valued at $5,863,915 over the last three months. Insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds and other institutional investors have recently made changes to their positions in HQY. Comerica Bank raised its stake in HealthEquity by 82,280.3% in the third quarter. Comerica Bank now owns 58,490 shares of the company's stock worth $4,273,000 after buying an additional 58,419 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of HealthEquity by 7.2% in the 3rd quarter. Natixis Advisors L.P. now owns 17,664 shares of the company's stock valued at $1,290,000 after purchasing an additional 1,180 shares during the period. Portside Wealth Group LLC bought a new stake in shares of HealthEquity during the second quarter valued at approximately $5,162,000. Gotham Asset Management LLC purchased a new stake in HealthEquity in the third quarter worth $1,103,000. Finally, Loomis Sayles & Co. L P raised its holdings in HealthEquity by 57.8% in the third quarter. Loomis Sayles & Co. L P now owns 399,683 shares of the company's stock worth $29,197,000 after purchasing an additional 146,372 shares in the last quarter. 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.