Millennium Management LLC Sells 493,986 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Millennium Management LLC trimmed its position in shares of HealthEquity, Inc. (NASDAQ:HQY) by 35.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,671 shares of the company’s stock after selling 493,986 shares during the period. Millennium Management LLC’s holdings in HealthEquity were worth $77,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Forest Hill Capital LLC purchased a new position in shares of HealthEquity in the 4th quarter worth approximately $2,021,000. Vanguard Group Inc. lifted its holdings in shares of HealthEquity by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock worth $715,783,000 after acquiring an additional 149,133 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of HealthEquity during the 1st quarter worth about $7,828,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of HealthEquity during the 1st quarter worth about $49,443,000. Finally, Lisanti Capital Growth LLC bought a new position in HealthEquity during the 1st quarter valued at about $4,701,000. 99.55% of the stock is currently owned by institutional investors.

HealthEquity Trading Up 1.6 %

HQY opened at $79.93 on Monday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 86.88, a PEG ratio of 1.25 and a beta of 0.52. HealthEquity, Inc. has a 12 month low of $61.81 and a 12 month high of $88.26. 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 fifty day moving average price of $76.29 and a 200-day moving average price of $79.21.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The firm had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. As a group, equities research analysts anticipate that HealthEquity, Inc. will post 2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HQY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Bank of America reduced their target price on HealthEquity from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Barrington Research reissued an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. JMP Securities reiterated a “market outperform” rating and set a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upped their target price on shares of HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Transactions at HealthEquity

In other HealthEquity news, Director Frank Corvino sold 7,705 shares of HealthEquity stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $81.89, for a total transaction of $630,962.45. Following the completion of the sale, the director now owns 6,070 shares of the company’s stock, valued at approximately $497,072.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Frank Corvino sold 7,705 shares of HealthEquity stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $81.89, for a total transaction of $630,962.45. Following the completion of the transaction, the director now directly owns 6,070 shares in the company, valued at $497,072.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 89,769 shares in the company, valued at $7,168,952.34. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

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.