Cim Investment Management Inc. Reduces Stock Position in HealthEquity, Inc. (NASDAQ:HQY)

Cim Investment Management Inc. trimmed its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,142 shares of the company’s stock after selling 234 shares during the period. Cim Investment Management Inc.’s holdings in HealthEquity were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in shares of HealthEquity during the 2nd quarter valued at $35,000. Paladin Wealth LLC purchased a new stake in HealthEquity during the third quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in HealthEquity in the second quarter valued at about $73,000. GAMMA Investing LLC boosted its position in HealthEquity by 57.8% in the third quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock worth $77,000 after purchasing an additional 344 shares during the last quarter. Finally, Quarry LP grew its stake in shares of HealthEquity by 418.8% during the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after purchasing an additional 1,089 shares during the period. 99.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday. Mizuho initiated coverage on shares of HealthEquity in a research report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price objective for the company. Barrington Research upped their price objective on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, JMP Securities lifted their target price on HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.71.

Insider Transactions at HealthEquity

In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the sale, the director now owns 4,823 shares of the company’s stock, valued at $387,093.98. This trade represents a 20.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $101.56, for a total value of $837,870.00. Following the completion of the sale, the director now owns 66,469 shares in the company, valued at approximately $6,750,591.64. The trade was a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,786 shares of company stock worth $1,722,387. 2.20% of the stock is currently owned by company insiders.

HealthEquity Stock Performance

HealthEquity stock opened at $95.00 on Friday. The company’s 50-day moving average price is $93.81 and its 200-day moving average price is $84.07. The company has a quick ratio of 4.10, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The company has a market cap of $8.23 billion, a PE ratio of 87.16, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. HealthEquity, Inc. has a twelve month low of $62.10 and a twelve month high of $105.82.

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.