Handelsinvest Investeringsforvaltning Lowers Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Handelsinvest Investeringsforvaltning lessened its stake in HealthEquity, Inc. (NASDAQ:HQY) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,308 shares of the company’s stock after selling 1,199 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in HealthEquity were worth $188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of HQY. Mackenzie Financial Corp increased its holdings in HealthEquity by 58.2% in the 4th quarter. Mackenzie Financial Corp now owns 1,807,407 shares of the company’s stock worth $119,831,000 after buying an additional 664,979 shares in the last quarter. Norges Bank bought a new stake in HealthEquity in the 4th quarter worth about $43,482,000. Vaughan Nelson Investment Management L.P. bought a new stake in HealthEquity in the 1st quarter worth about $49,443,000. Wasatch Advisors LP grew its stake in shares of HealthEquity by 8.3% during the 1st quarter. Wasatch Advisors LP now owns 7,409,080 shares of the company’s stock valued at $604,803,000 after purchasing an additional 569,249 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of HealthEquity by 24.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,129,634 shares of the company’s stock valued at $74,895,000 after purchasing an additional 223,428 shares during the period. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jon Kessler sold 32,326 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the sale, the chief executive officer now directly owns 232,176 shares of the company’s stock, valued at approximately $19,231,138.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Vice Chairman Stephen Neeleman sold 2,080 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $85.01, for a total transaction of $176,820.80. Following the sale, the insider now directly owns 90,515 shares of the company’s stock, valued at approximately $7,694,680.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon Kessler sold 32,326 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the sale, the chief executive officer now directly owns 232,176 shares in the company, valued at $19,231,138.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,806 shares of company stock valued at $2,888,383. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on HealthEquity from $86.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. KeyCorp boosted their price target on HealthEquity from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of HealthEquity in a research note on Tuesday, June 4th. JMP Securities boosted their price target on HealthEquity from $101.00 to $105.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company boosted their price target on HealthEquity from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, HealthEquity currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.67.

HealthEquity Stock Down 2.6 %

NASDAQ HQY opened at $83.56 on Thursday. The stock’s 50 day moving average is $81.34 and its 200 day moving average is $78.52. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.44. HealthEquity, Inc. has a 12 month low of $61.32 and a 12 month high of $88.26. The stock has a market cap of $7.27 billion, a PE ratio of 90.83, a P/E/G ratio of 1.44 and a beta of 0.57.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Monday, June 3rd. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. HealthEquity had a return on equity of 7.77% and a net margin of 7.71%. The company had revenue of $287.60 million for the quarter, compared to analysts’ expectations of $278.78 million. Research analysts predict that HealthEquity, Inc. will post 2.12 EPS for the current fiscal year.

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.