HealthEquity (NASDAQ:HQY) Trading Down 3.4% – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY)’s stock price fell 3.4% during trading on Wednesday . The stock traded as low as $95.95 and last traded at $96.75. 44,685 shares were traded during mid-day trading, a decline of 93% from the average session volume of 612,172 shares. The stock had previously closed at $100.20.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Bank of America increased their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $107.17.

HealthEquity Stock Up 0.9 %

The business’s 50 day moving average is $84.56 and its 200-day moving average is $80.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 79.75, a price-to-earnings-growth ratio of 1.57 and a beta of 0.52.

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

Insider Activity at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares in the company, valued at $4,540,582.62. The trade was a 13.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Corvino sold 1,247 shares of HealthEquity stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the sale, the director now owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This represents a 20.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,536 shares of company stock valued at $884,517 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in shares of HealthEquity by 6.6% in the third quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after buying an additional 483,269 shares during the period. Edgestream Partners L.P. bought a new stake in HealthEquity during the third quarter worth $1,228,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in HealthEquity by 1.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 329,477 shares of the company’s stock worth $26,968,000 after acquiring an additional 6,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in HealthEquity by 28.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,526 shares of the company’s stock worth $1,844,000 after acquiring an additional 4,993 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of HealthEquity by 3.9% in the third quarter. Townsquare Capital LLC now owns 22,292 shares of the company’s stock valued at $1,825,000 after purchasing an additional 839 shares during the period. Institutional investors and hedge funds 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.