Assetmark Inc. Buys 3,729 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Assetmark Inc. grew its stake in HealthEquity, Inc. (NASDAQ:HQY) by 457.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,544 shares of the company’s stock after acquiring an additional 3,729 shares during the quarter. Assetmark Inc.’s holdings in HealthEquity were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in HealthEquity during the second quarter worth about $35,000. Paladin Wealth LLC bought a new position in shares of HealthEquity during the 3rd quarter valued at about $39,000. GAMMA Investing LLC grew its position in shares of HealthEquity by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after purchasing an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in HealthEquity during the 2nd quarter worth approximately $73,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in HealthEquity during the 3rd quarter worth approximately $112,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Stock Up 3.4 %

HQY stock opened at $98.98 on Friday. HealthEquity, Inc. has a 1-year low of $62.10 and a 1-year high of $101.17. The business’s 50 day simple moving average is $85.02 and its 200 day simple moving average is $81.08. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $8.64 billion, a PE ratio of 82.48, a PEG ratio of 1.48 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.16. The company had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. As a group, research analysts anticipate that HealthEquity, Inc. will post 2.27 EPS for the current year.

Insider Activity

In related news, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Corvino sold 1,039 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the sale, the director now directly owns 3,784 shares of the company’s stock, valued at $363,642.40. This represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

HQY has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Barrington Research reaffirmed an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research report on Friday, September 20th. The Goldman Sachs Group began coverage on HealthEquity in a research report on Friday. They issued a “neutral” rating and a $108.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, HealthEquity presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

HealthEquity 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.