HealthEquity, Inc. (NASDAQ:HQY) Sees Significant Increase in Short Interest

HealthEquity, Inc. (NASDAQ:HQY) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,770,000 shares, an increase of 39.7% from the March 15th total of 4,130,000 shares. Based on an average daily volume of 1,060,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 6.8% of the company’s stock are short sold.

Insider Activity

In related news, EVP Michael Henry Fiore sold 8,881 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $78.26, for a total transaction of $695,027.06. Following the sale, the executive vice president now owns 56,655 shares of the company’s stock, valued at $4,433,820.30. The trade was a 13.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $111.29, for a total transaction of $639,917.50. Following the transaction, the director now directly owns 78,219 shares of the company’s stock, valued at $8,704,992.51. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,381 shares of company stock worth $1,781,432 in the last quarter. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On HealthEquity

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of HealthEquity by 209.3% during the 3rd quarter. Barclays PLC now owns 166,492 shares of the company’s stock valued at $13,628,000 after buying an additional 112,667 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of HealthEquity in the third quarter worth approximately $260,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of HealthEquity in the third quarter worth $150,000. Franklin Resources Inc. raised its position in shares of HealthEquity by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,640,215 shares of the company’s stock valued at $139,369,000 after purchasing an additional 11,659 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of HealthEquity by 32.9% during the 4th quarter. GAMMA Investing LLC now owns 1,248 shares of the company’s stock valued at $120,000 after buying an additional 309 shares in the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Stock Up 2.5 %

HQY opened at $84.52 on Friday. HealthEquity has a 1-year low of $65.01 and a 1-year high of $115.59. The firm’s 50 day simple moving average is $94.78 and its two-hundred day simple moving average is $96.42. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $7.31 billion, a PE ratio of 77.54, a PEG ratio of 1.60 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HQY shares. The Goldman Sachs Group dropped their target price on HealthEquity from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. KeyCorp reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday. Barrington Research reiterated an “outperform” rating and set a $112.00 price target on shares of HealthEquity in a report on Friday, April 11th. Wells Fargo & Company boosted their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Raymond James raised HealthEquity from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $120.00 to $115.00 in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, HealthEquity currently has an average rating of “Buy” and an average price target of $111.75.

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.