Portside Wealth Group LLC Purchases 318 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Portside Wealth Group LLC lifted its position in shares of HealthEquity, Inc. (NASDAQ:HQY) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,667 shares of the company’s stock after purchasing an additional 318 shares during the period. Portside Wealth Group LLC’s holdings in HealthEquity were worth $236,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wealthfront Advisers LLC purchased a new stake in shares of HealthEquity during the 4th quarter valued at $10,304,089,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of HealthEquity during the 4th quarter worth approximately $78,107,000. Norges Bank bought a new stake in shares of HealthEquity in the 4th quarter worth approximately $74,701,000. Raymond James Financial Inc. purchased a new position in HealthEquity in the fourth quarter valued at approximately $45,728,000. Finally, Iron Triangle Partners LP bought a new position in HealthEquity during the fourth quarter valued at $32,202,000. 99.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HealthEquity news, EVP Elimelech Rosner sold 58,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the transaction, the executive vice president now directly owns 75,689 shares of the company’s stock, valued at approximately $8,519,553.84. This trade represents a 43.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Kessler sold 134,183 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the sale, the director now directly owns 253,510 shares of the company’s stock, valued at $28,413,400.80. The trade was a 34.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,581 shares of company stock valued at $33,664,018. Company insiders own 1.50% of the company’s stock.

HealthEquity Price Performance

NASDAQ HQY opened at $104.56 on Thursday. HealthEquity, Inc. has a one year low of $65.01 and a one year high of $116.65. The stock has a 50-day moving average of $92.93 and a 200 day moving average of $97.88. 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 company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 95.93, a PEG ratio of 1.60 and a beta of 0.49.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. The firm had revenue of $330.80 million for the quarter, compared to the consensus estimate of $322.25 million. During the same quarter last year, the firm posted $0.80 EPS. On average, sell-side analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on HealthEquity from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Raymond James raised shares of HealthEquity from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $120.00 to $115.00 in a report on Tuesday, March 25th. Royal Bank of Canada lifted their target price on shares of HealthEquity from $112.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Wells Fargo & Company upped their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $118.09.

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.