HealthEquity (NASDAQ:HQY) Trading Down 3.4% – Here’s What Happened

Shares of HealthEquity, Inc. (NASDAQ:HQY) were down 3.4% during trading on Wednesday . The stock traded as low as $95.95 and last traded at $96.75. Approximately 44,685 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 612,172 shares. The stock had previously closed at $100.20.

Analyst Upgrades and Downgrades

HQY has been the topic of a number of analyst reports. BTIG Research increased their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. Barrington Research reiterated an “outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a report on Friday, September 20th. Bank of America raised their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, JMP Securities restated a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, HealthEquity currently has a consensus rating of “Buy” and an average target price of $107.17.

HealthEquity Stock Up 0.9 %

The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $8.36 billion, a PE ratio of 79.75, a P/E/G ratio of 1.57 and a beta of 0.52. The stock’s fifty day simple moving average is $84.56 and its 200-day simple moving average is $80.94.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) 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 the consensus estimate of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. As a group, sell-side analysts forecast that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Transactions at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the sale, the director now directly owns 3,784 shares in the company, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company’s stock, valued at $4,540,582.62. The trade was a 13.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,536 shares of company stock worth $884,517 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of HealthEquity by 27.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,970 shares of the company’s stock valued at $324,000 after buying an additional 855 shares in the last quarter. Swiss National Bank boosted its stake in HealthEquity by 0.4% in the 1st quarter. Swiss National Bank now owns 169,300 shares of the company’s stock worth $13,820,000 after purchasing an additional 600 shares during the period. US Bancorp DE boosted its stake in HealthEquity by 4.8% in the 1st quarter. US Bancorp DE now owns 11,489 shares of the company’s stock worth $938,000 after purchasing an additional 521 shares during the period. ProShare Advisors LLC boosted its stake in HealthEquity by 5.7% in the 1st quarter. ProShare Advisors LLC now owns 19,477 shares of the company’s stock worth $1,590,000 after purchasing an additional 1,053 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of HealthEquity by 11.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 26,663 shares of the company’s stock worth $2,177,000 after acquiring an additional 2,660 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

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.