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

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

Analyst Ratings Changes

HQY has been the topic of a number of research analyst reports. Mizuho assumed coverage on shares of HealthEquity in a research note on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price objective on the stock. Royal Bank of Canada boosted 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, December 10th. The Goldman Sachs Group assumed coverage on shares of HealthEquity in a report on Friday, November 15th. They issued a “neutral” rating and a $108.00 price target for the company. JMP Securities lifted their price objective 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. Finally, BTIG Research increased their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Stock Performance

The stock has a market capitalization 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 quick ratio of 3.20 and a current ratio of 3.20. The firm has a 50 day moving average of $98.83 and a 200-day moving average of $86.49.

Insiders Place Their Bets

In other HealthEquity news, Director Stuart B. Parker sold 25,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the sale, the director now directly owns 19,061 shares of the company’s stock, valued at $1,843,579.92. This represents a 56.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Corvino sold 1,039 shares of the business’s stock in a transaction dated 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 owns 3,784 shares in the company, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,289 shares of company stock valued at $3,355,718 over the last quarter. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds have recently made changes to their positions in HQY. Raymond James Trust N.A. increased its stake in HealthEquity by 4.8% in the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock valued at $238,000 after acquiring an additional 132 shares during the period. UMB Bank n.a. boosted its position in HealthEquity by 65.6% in the fourth quarter. UMB Bank n.a. now owns 414 shares of the company’s stock valued at $40,000 after buying an additional 164 shares in the last quarter. Truist Financial Corp grew its stake in HealthEquity by 7.0% during the second quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after buying an additional 188 shares during the last quarter. Elk River Wealth Management LLC boosted its stake in HealthEquity by 0.3% in the third quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock worth $5,417,000 after purchasing an additional 217 shares in the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in shares of HealthEquity by 5.8% during the third quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company’s stock worth $330,000 after purchasing an additional 233 shares during the last quarter. 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.