GAMMA Investing LLC Raises Stake in HealthEquity, Inc. (NASDAQ:HQY)

GAMMA Investing LLC grew its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 57.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 939 shares of the company’s stock after acquiring an additional 344 shares during the period. GAMMA Investing LLC’s holdings in HealthEquity were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Motley Fool Asset Management LLC boosted its position in HealthEquity by 3,001.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,762,064 shares of the company’s stock worth $307,097,000 after purchasing an additional 3,640,748 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of HealthEquity in the first quarter valued at $49,443,000. Wasatch Advisors LP lifted its holdings in HealthEquity by 8.3% during the 1st quarter. Wasatch Advisors LP now owns 7,409,080 shares of the company’s stock worth $604,803,000 after purchasing an additional 569,249 shares in the last quarter. Mackenzie Financial Corp boosted its stake in HealthEquity by 16.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after purchasing an additional 325,906 shares during the period. Finally, Generate Investment Management Ltd purchased a new position in HealthEquity during the 2nd quarter valued at about $24,184,000. 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 recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a report on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. JMP Securities reiterated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, HealthEquity currently has an average rating of “Buy” and a consensus target price of $103.83.

Insiders Place Their Bets

In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the sale, the director now directly owns 4,823 shares in the company, valued at $387,093.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the completion of the transaction, the director now owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $79.86, for a total transaction of $2,795,100.00. Following the completion of the sale, the insider now directly owns 89,769 shares in the company, valued at $7,168,952.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,497 shares of company stock worth $3,579,769. 2.20% of the stock is currently owned by corporate insiders.

HealthEquity Stock Down 1.3 %

NASDAQ HQY opened at $83.83 on Wednesday. The business’s 50-day moving average is $77.77 and its 200 day moving average is $79.32. The stock has a market capitalization of $7.29 billion, a PE ratio of 91.12, a PEG ratio of 1.31 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. HealthEquity, Inc. has a 1 year low of $61.81 and a 1 year high of $88.26.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. Sell-side analysts forecast that HealthEquity, Inc. will post 2.27 earnings per share for the current year.

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.