HealthEquity (NASDAQ:HQY) Trading Down 3.6% – Here’s Why

Shares of HealthEquity, Inc. (NASDAQ:HQY) traded down 3.6% during mid-day trading on Wednesday . The stock traded as low as $97.72 and last traded at $99.85. 282,589 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 733,649 shares. The stock had previously closed at $103.61.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 price objective on the stock. JMP Securities boosted their price target on shares of HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. BTIG Research raised their price target on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada upped their price objective on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Barrington Research raised their target price on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.71.

HealthEquity Stock Performance

The stock has a 50-day moving average price of $98.83 and a 200 day moving average price of $86.49. The firm has a market cap of $8.88 billion, a PE ratio of 93.96, a P/E/G ratio of 1.77 and a beta of 0.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

Insider Buying and Selling at HealthEquity

In other news, Director Stuart B. Parker sold 25,000 shares of HealthEquity stock in a transaction that occurred on 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 owns 19,061 shares in the company, valued at $1,843,579.92. This trade represents a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Corvino sold 1,039 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the transaction, the director now directly owns 3,784 shares in the company, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,289 shares of company stock worth $3,355,718 in the last quarter. 2.20% of the stock is owned by insiders.

Institutional Trading of HealthEquity

Several large investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its holdings in 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 purchasing an additional 483,269 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of HealthEquity by 16.0% during the second quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after buying an additional 325,906 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of HealthEquity by 36.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock worth $69,034,000 after buying an additional 226,563 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in HealthEquity by 924.2% in the second quarter. Thrivent Financial for Lutherans now owns 220,220 shares of the company’s stock valued at $18,983,000 after acquiring an additional 198,718 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in HealthEquity by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,547,402 shares of the company’s stock worth $133,377,000 after purchasing an additional 115,841 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

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.