Wealthfront Advisers LLC Takes $10.30 Billion Position in HealthEquity, Inc. (NASDAQ:HQY)

Wealthfront Advisers LLC bought a new stake in HealthEquity, Inc. (NASDAQ:HQY) in the 4th quarter, HoldingsChannel.com reports. The firm bought 107,390,188 shares of the company’s stock, valued at approximately $10,304,089,000. HealthEquity makes up approximately 8.5% of Wealthfront Advisers LLC’s investment portfolio, making the stock its 3rd largest holding. Wealthfront Advisers LLC owned 1.24% of HealthEquity as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of HealthEquity in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC raised its position in HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. UMB Bank n.a. raised its position in HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock valued at $40,000 after purchasing an additional 164 shares during the last quarter. Lindbrook Capital LLC raised its position in HealthEquity by 27.6% in the 4th quarter. Lindbrook Capital LLC now owns 750 shares of the company’s stock valued at $72,000 after purchasing an additional 162 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in HealthEquity by 50.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,115 shares of the company’s stock valued at $107,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Price Performance

Shares of NASDAQ HQY opened at $94.48 on Tuesday. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 86.68, a PEG ratio of 1.60 and a beta of 0.62. HealthEquity, Inc. has a 52 week low of $65.01 and a 52 week high of $115.59. The company’s 50-day moving average price is $105.80 and its 200 day moving average price is $94.66. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Monday, December 9th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.12). HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, research analysts forecast that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity at HealthEquity

In other HealthEquity news, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the sale, the director now directly owns 19,061 shares of the company’s stock, valued at $1,843,579.92. This trade represents a 56.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $111.29, for a total transaction of $639,917.50. Following the completion of the sale, the director now directly owns 78,219 shares in the company, valued at $8,704,992.51. This represents a 6.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. BTIG Research upped their price target on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada upped their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Raymond James upped their price target on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Finally, The Goldman Sachs Group initiated coverage on shares of HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, HealthEquity has an average rating of “Moderate Buy” and an average target price of $113.54.

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.