King Luther Capital Management Corp Has $3.90 Million Stake in HealthEquity, Inc. (NASDAQ:HQY)

King Luther Capital Management Corp increased its stake in HealthEquity, Inc. (NASDAQ:HQY) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,295 shares of the company’s stock after purchasing an additional 2,508 shares during the quarter. King Luther Capital Management Corp owned approximately 0.05% of HealthEquity worth $3,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in HealthEquity during the fourth quarter worth $43,482,000. Cape Investment Advisory Inc. bought a new position in HealthEquity during the fourth quarter worth $27,000. Hsbc Holdings PLC bought a new position in HealthEquity during the fourth quarter worth $4,490,000. Parallel Advisors LLC increased its position in HealthEquity by 255.5% during the fourth quarter. Parallel Advisors LLC now owns 679 shares of the company’s stock worth $45,000 after acquiring an additional 488 shares during the period. Finally, TFO Wealth Partners LLC increased its position in HealthEquity by 30,025.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,205 shares of the company’s stock worth $80,000 after acquiring an additional 1,201 shares during the period. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Stock Up 1.2 %

HQY opened at $79.53 on Friday. The firm’s 50-day simple moving average is $76.17 and its 200-day simple moving average is $79.32. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 86.45, a PEG ratio of 1.19 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. HealthEquity, Inc. has a twelve month low of $61.81 and a twelve month high of $88.26.

Insider Buying and Selling

In related news, CEO Jon Kessler sold 32,326 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the transaction, the chief executive officer now owns 232,176 shares in the company, valued at approximately $19,231,138.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Frank Corvino sold 7,705 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $81.89, for a total transaction of $630,962.45. Following the transaction, the director now owns 6,070 shares in the company, valued at approximately $497,072.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jon Kessler sold 32,326 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the transaction, the chief executive officer now owns 232,176 shares in the company, valued at $19,231,138.08. The disclosure for this sale can be found here. Insiders have sold a total of 75,031 shares of company stock worth $6,103,625 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HQY. Bank of America dropped their target price on shares of HealthEquity from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. KeyCorp boosted their price target on shares of HealthEquity from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Wells Fargo & Company boosted their price target on shares of HealthEquity from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Raymond James boosted their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average target price of $103.83.

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.