HealthEquity, Inc. $HQY Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 33.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,902 shares of the company’s stock after selling 5,595 shares during the quarter. Fred Alger Management LLC’s holdings in HealthEquity were worth $963,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in HealthEquity by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,133,166 shares of the company’s stock worth $100,138,000 after purchasing an additional 15,458 shares in the last quarter. Granahan Investment Management LLC purchased a new position in shares of HealthEquity in the 1st quarter valued at $5,261,000. Hancock Whitney Corp raised its stake in HealthEquity by 7.0% during the 1st quarter. Hancock Whitney Corp now owns 14,261 shares of the company’s stock worth $1,260,000 after acquiring an additional 935 shares in the last quarter. Alliancebernstein L.P. raised its stake in HealthEquity by 20.6% during the 1st quarter. Alliancebernstein L.P. now owns 217,414 shares of the company’s stock worth $19,213,000 after acquiring an additional 37,068 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in HealthEquity by 89.9% in the first quarter. AQR Capital Management LLC now owns 445,653 shares of the company’s stock valued at $38,540,000 after acquiring an additional 210,972 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

Wall Street Analysts Forecast Growth

HQY has been the topic of a number of research analyst reports. Bank of America lifted their target price on HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Royal Bank Of Canada raised their price target on HealthEquity from $109.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on HealthEquity from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Barrington Research reissued an “outperform” rating and issued a $125.00 price objective on shares of HealthEquity in a report on Friday, August 29th. Finally, Wall Street Zen raised shares of HealthEquity from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $119.77.

Insider Activity at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president owned 53,225 shares of the company’s stock, valued at $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

HealthEquity Stock Performance

Shares of HQY opened at $92.99 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a market capitalization of $8.01 billion, a P/E ratio of 56.36, a P/E/G ratio of 1.32 and a beta of 0.50. The company’s fifty day moving average is $93.94 and its two-hundred day moving average is $94.74. HealthEquity, Inc. has a 1 year low of $74.07 and a 1 year high of $116.65.

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.